diff --git a/dependencies.gradle b/dependencies.gradle
index 01a2550762..0a4e2e219b 100644
--- a/dependencies.gradle
+++ b/dependencies.gradle
@@ -45,7 +45,7 @@ def VERSIONS = [
         'javax.inject:javax.inject:1',
         'javax.servlet:javax.servlet-api:latest.release',
         'javax.xml.bind:jaxb-api:2.3.+',
-        'io.micrometer:context-propagation:1.0.+',
+        'io.micrometer:context-propagation:1.0.4',
         'org.jetbrains.kotlinx:kotlinx-coroutines-core:latest.release',
         'net.sf.ehcache:ehcache:latest.release',
         'org.apache.felix:org.apache.felix.framework:7.0.5',
diff --git a/micrometer-core/gradle.lockfile b/micrometer-core/gradle.lockfile
index 65c77d7bc7..a00a66f43a 100644
--- a/micrometer-core/gradle.lockfile
+++ b/micrometer-core/gradle.lockfile
@@ -90,7 +90,7 @@ io.grpc:grpc-protobuf-lite:1.54.0=java11TestCompileClasspath,java11TestImplement
 io.grpc:grpc-protobuf:1.54.0=java11TestCompileClasspath,java11TestImplementationDependenciesMetadata,java11TestRuntimeClasspath,testCompileClasspath,testImplementationDependenciesMetadata,testRuntimeClasspath
 io.grpc:grpc-stub:1.54.0=java11TestCompileClasspath,java11TestImplementationDependenciesMetadata,java11TestRuntimeClasspath,testCompileClasspath,testImplementationDependenciesMetadata,testRuntimeClasspath
 io.grpc:grpc-testing-proto:1.54.0=java11TestCompileClasspath,java11TestImplementationDependenciesMetadata,java11TestRuntimeClasspath,testCompileClasspath,testImplementationDependenciesMetadata,testRuntimeClasspath
-io.micrometer:context-propagation:1.0.3=compileClasspath,runtimeClasspath,testCompileClasspath,testRuntimeClasspath
+io.micrometer:context-propagation:1.0.4=compileClasspath,runtimeClasspath,testCompileClasspath,testRuntimeClasspath
 io.netty:netty-bom:4.1.94.Final=apiDependenciesMetadata,compileClasspath,compileOnlyDependenciesMetadata,implementationDependenciesMetadata,java11ApiDependenciesMetadata,java11CompileClasspath,java11ImplementationDependenciesMetadata,java11RuntimeClasspath,java11TestCompileClasspath,java11TestImplementationDependenciesMetadata,java11TestRuntimeClasspath,runtimeClasspath,runtimeOnlyDependenciesMetadata,testCompileClasspath,testImplementationDependenciesMetadata,testRuntimeClasspath,testRuntimeOnlyDependenciesMetadata
 io.netty:netty-buffer:4.1.94.Final=compileClasspath,runtimeClasspath,testCompileClasspath,testRuntimeClasspath
 io.netty:netty-common:4.1.94.Final=compileClasspath,runtimeClasspath,testCompileClasspath,testRuntimeClasspath
diff --git a/micrometer-observation/gradle.lockfile b/micrometer-observation/gradle.lockfile
index 9094139268..9950e2584c 100644
--- a/micrometer-observation/gradle.lockfile
+++ b/micrometer-observation/gradle.lockfile
@@ -46,7 +46,7 @@ info.picocli:picocli:4.6.2=checkstyle
 info.picocli:picocli:4.6.3=spotless-1972451482
 io.github.detekt.sarif4k:sarif4k:0.2.0=spotless-1972451482
 io.github.microutils:kotlin-logging-jvm:2.1.23=spotless-1972451482
-io.micrometer:context-propagation:1.0.3=compileClasspath,runtimeClasspath,testCompileClasspath,testRuntimeClasspath
+io.micrometer:context-propagation:1.0.4=compileClasspath,runtimeClasspath,testCompileClasspath,testRuntimeClasspath
 io.netty:netty-bom:4.1.94.Final=compileClasspath,runtimeClasspath,testCompileClasspath,testRuntimeClasspath
 io.projectreactor:reactor-bom:2020.0.33=compileClasspath,runtimeClasspath,testCompileClasspath,testRuntimeClasspath
 io.spring.javaformat:spring-javaformat-checkstyle:0.0.39=checkstyle