diff --git a/package.json b/package.json
index 2f584e3c7..492d3e0d8 100644
--- a/package.json
+++ b/package.json
@@ -33,7 +33,7 @@
         "@wojtekmaj/enzyme-adapter-react-17": "^0.4.1",
         "autoprefixer": "^9.6.1",
         "axios": "^0.24.0",
-        "babel-loader": "^8.0.6",
+        "babel-loader": "^8.3.0",
         "babel-plugin-transform-require-ignore": "^0.1.1",
         "box-annotations": "^2.3.0",
         "box-ui-elements": "^18.1.0",
@@ -95,7 +95,7 @@
         "typescript": "^5.0.4",
         "uglifyjs-webpack-plugin": "^2.1.3",
         "wait-on": "^3.2.0",
-        "webpack": "^4.36.1",
+        "webpack": "^4.47.0",
         "webpack-bundle-analyzer": "^3.3.2",
         "webpack-cli": "^3.3.6",
         "webpack-dev-server": "^3.11.2"
@@ -107,9 +107,9 @@
     "scripts": {
         "build": "yarn setup && yarn clean && yarn build:i18n && yarn build:dev",
         "build:ci": "yarn setup && yarn webpack --progress --colors --config build/webpack.config.js",
-        "build:dev": "BABEL_ENV=dev NODE_ENV=dev NODE_OPTIONS=--openssl-legacy-provider yarn webpack --progress --colors --config build/webpack.config.js",
+        "build:dev": "BABEL_ENV=dev NODE_ENV=dev yarn webpack --progress --colors --config build/webpack.config.js",
         "build:i18n": "mojito-rb-gen -s src/i18n -o src/i18n/json -b en-US.properties",
-        "build:prod": "BABEL_ENV=production NODE_ENV=production NODE_OPTIONS=--openssl-legacy-provider node --max_old_space_size=4096 ./node_modules/webpack/bin/webpack.js --progress --colors --config build/webpack.config.js",
+        "build:prod": "BABEL_ENV=production NODE_ENV=production node --max_old_space_size=4096 ./node_modules/webpack/bin/webpack.js --progress --colors --config build/webpack.config.js",
         "clean": "rm -rf dist && rm -rf reports/coverage && rm -rf src/i18n/json",
         "cy:open": "yarn cy:wait; yarn cypress open",
         "cy:run": "yarn cy:wait; yarn cypress run --spec test/integration/**/*.test.js",
@@ -125,7 +125,7 @@
         "setup": "yarn install",
         "start": "yarn setup && yarn build:dev --watch",
         "start:linked": "yarn link box-annotations && IS_LINKED=1 yarn start",
-        "start:dev": "yarn build:i18n && LANGUAGE=en-US BABEL_ENV=dev NODE_ENV=dev NODE_OPTIONS=--openssl-legacy-provider yarn webpack-dev-server --config build/webpack.config.js",
+        "start:dev": "yarn build:i18n && LANGUAGE=en-US BABEL_ENV=dev NODE_ENV=dev yarn webpack-dev-server --config build/webpack.config.js",
         "start:dev:linked": "yarn link box-annotations && IS_LINKED=1 yarn start:dev",
         "test": "./build/verify_custom_updates.sh yarn setup && NODE_ENV=test yarn jest",
         "test:ci": "yarn test --ci --maxWorkers=4",
diff --git a/yarn.lock b/yarn.lock
index cef4155c6..7811ec8d0 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -2839,7 +2839,7 @@ babel-jest@^26.6.3:
     graceful-fs "^4.2.4"
     slash "^3.0.0"
 
-babel-loader@^8.0.6:
+babel-loader@^8.3.0:
   version "8.3.0"
   resolved "https://registry.yarnpkg.com/babel-loader/-/babel-loader-8.3.0.tgz#124936e841ba4fe8176786d6ff28add1f134d6a8"
   integrity sha512-H8SvsMF+m9t15HNLMipppzkC+Y2Yq+v3SonZyU70RBL/h1gxPkH08Ot8pEE9Z4Kd+czyWJClmFS8qzIP9OZ04Q==
@@ -14041,8 +14041,10 @@ watchpack@^1.7.4:
   resolved "https://registry.yarnpkg.com/watchpack/-/watchpack-1.7.5.tgz#1267e6c55e0b9b5be44c2023aed5437a2c26c453"
   integrity sha512-9P3MWk6SrKjHsGkLT2KHXdQ/9SNkyoJbabxnKOoJepsvJjJG8uYTR3yTPxPQvNDI3w4Nz1xnE0TLHK4RIVe/MQ==
   dependencies:
+    chokidar "^3.4.1"
     graceful-fs "^4.1.2"
     neo-async "^2.5.0"
+    watchpack-chokidar2 "^2.0.1"
   optionalDependencies:
     chokidar "^3.4.1"
     watchpack-chokidar2 "^2.0.1"
@@ -14166,10 +14168,10 @@ webpack-sources@^1.1.0, webpack-sources@^1.4.0, webpack-sources@^1.4.1:
     source-list-map "^2.0.0"
     source-map "~0.6.1"
 
-webpack@^4.36.1:
-  version "4.46.0"
-  resolved "https://registry.yarnpkg.com/webpack/-/webpack-4.46.0.tgz#bf9b4404ea20a073605e0a011d188d77cb6ad542"
-  integrity sha512-6jJuJjg8znb/xRItk7bkT0+Q7AHCYjjFnvKIWQPkNIOyRqoCGvkOs0ipeQzrqz4l5FtN5ZI/ukEHroeX/o1/5Q==
+webpack@^4.47.0:
+  version "4.47.0"
+  resolved "https://registry.yarnpkg.com/webpack/-/webpack-4.47.0.tgz#8b8a02152d7076aeb03b61b47dad2eeed9810ebc"
+  integrity sha512-td7fYwgLSrky3fI1EuU5cneU4+pbH6GgOfuKNS1tNPcfdGinGELAqsb/BP4nnvZyKSG2i/xFGU7+n2PvZA8HJQ==
   dependencies:
     "@webassemblyjs/ast" "1.9.0"
     "@webassemblyjs/helper-module-context" "1.9.0"