diff --git a/Cargo.lock b/Cargo.lock
index 1cb2ec10f..0bb12227b 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1144,9 +1144,9 @@ dependencies = [
 
 [[package]]
 name = "serde_with"
-version = "2.3.1"
+version = "2.3.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "85456ffac572dc8826334164f2fb6fb40a7c766aebe195a2a21ee69ee2885ecf"
+checksum = "331bb8c3bf9b92457ab7abecf07078c13f7d270ba490103e84e8b014490cd0b0"
 dependencies = [
  "serde",
  "serde_with_macros",
@@ -1154,9 +1154,9 @@ dependencies = [
 
 [[package]]
 name = "serde_with_macros"
-version = "2.3.1"
+version = "2.3.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7cbcd6104f8a4ab6af7f6be2a0da6be86b9de3c401f6e86bb856ab2af739232f"
+checksum = "859011bddcc11f289f07f467cc1fe01c7a941daa4d8f6c40d4d1c92eb6d9319c"
 dependencies = [
  "darling",
  "proc-macro2",
diff --git a/hypervisor/Cargo.toml b/hypervisor/Cargo.toml
index c40b73f4f..da666e9bd 100644
--- a/hypervisor/Cargo.toml
+++ b/hypervisor/Cargo.toml
@@ -21,7 +21,7 @@ kvm-bindings = { git = "https://github.com/cloud-hypervisor/kvm-bindings", branc
 mshv-bindings = { git = "https://github.com/rust-vmm/mshv", branch = "main", features = ["with-serde", "fam-wrappers"], optional  = true }
 mshv-ioctls = { git = "https://github.com/rust-vmm/mshv", branch = "main", optional  = true}
 serde = { version = "1.0.151", features = ["rc", "derive"] }
-serde_with = { version = "2.3.1", default-features = false, features = ["macros"] }
+serde_with = { version = "2.3.2", default-features = false, features = ["macros"] }
 vfio-ioctls = { git = "https://github.com/rust-vmm/vfio", branch = "main", default-features = false }
 vm-memory = { version = "0.10.0", features = ["backend-mmap", "backend-atomic"] }
 vmm-sys-util = { version = "0.11.0", features = ["with-serde"] }