diff --git a/package-lock.json b/package-lock.json
index c7b051c43b..78b04c33eb 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -12,7 +12,7 @@
         "@edx/brand": "npm:@edx/brand-openedx@1.1.0",
         "@edx/frontend-component-footer": "12.0.0",
         "@edx/frontend-enterprise-hotjar": "^1.2.1",
-        "@edx/frontend-lib-content-components": "^1.170.2",
+        "@edx/frontend-lib-content-components": "^1.171.1",
         "@edx/frontend-platform": "4.2.0",
         "@edx/paragon": "^20.45.4",
         "@fortawesome/fontawesome-svg-core": "1.2.28",
@@ -2298,9 +2298,9 @@
       }
     },
     "node_modules/@edx/frontend-lib-content-components": {
-      "version": "1.170.2",
-      "resolved": "https://registry.npmjs.org/@edx/frontend-lib-content-components/-/frontend-lib-content-components-1.170.2.tgz",
-      "integrity": "sha512-BU6mLAq82s5syRj7NCEYPcaCapXw2cO8hBZQfsulP6Fu6UjASTuyJX8jayovyyLrmJSkwtl+iUX2g8nLDc3NNA==",
+      "version": "1.171.1",
+      "resolved": "https://registry.npmjs.org/@edx/frontend-lib-content-components/-/frontend-lib-content-components-1.171.1.tgz",
+      "integrity": "sha512-7nO9lVUSsEJW/Gh5ta6BVFJlsOqVf08cV+yGYq/+PtMPwHwTyh+gduqlOnEicLwnijm3qFFQUVOS6mYBh15l6A==",
       "dependencies": {
         "@codemirror/lang-html": "^6.0.0",
         "@codemirror/lang-xml": "^6.0.0",
@@ -2336,7 +2336,7 @@
         "xmlchecker": "^0.1.0"
       },
       "peerDependencies": {
-        "@edx/frontend-platform": "^4.0.0",
+        "@edx/frontend-platform": "^4.0.0 || ^5.0.0",
         "@edx/paragon": "^20.27.0",
         "prop-types": "^15.5.10",
         "react": "^16.14.0 || ^17.0.0",
diff --git a/package.json b/package.json
index 296742b57d..5b046f600e 100644
--- a/package.json
+++ b/package.json
@@ -37,7 +37,7 @@
     "@edx/brand": "npm:@edx/brand-openedx@1.1.0",
     "@edx/frontend-component-footer": "12.0.0",
     "@edx/frontend-enterprise-hotjar": "^1.2.1",
-    "@edx/frontend-lib-content-components": "^1.170.2",
+    "@edx/frontend-lib-content-components": "^1.171.1",
     "@edx/frontend-platform": "4.2.0",
     "@edx/paragon": "^20.45.4",
     "@fortawesome/fontawesome-svg-core": "1.2.28",