diff --git a/distdir_deps.bzl b/distdir_deps.bzl
index a0f4698adf309f..82bf61f42be15e 100644
--- a/distdir_deps.bzl
+++ b/distdir_deps.bzl
@@ -246,22 +246,22 @@ DIST_DEPS = {
         ],
     },
     "com_google_absl": {
-        "archive": "20211102.0.tar.gz",
-        "sha256": "dcf71b9cba8dc0ca9940c4b316a0c796be8fab42b070bb6b7cab62b48f0e66c4",
+        "archive": "20220623.1.tar.gz",
+        "sha256": "91ac87d30cc6d79f9ab974c51874a704de9c2647c40f6932597329a282217ba8",
         "urls": [
-            "https://mirror.bazel.build/github.com/abseil/abseil-cpp/archive/refs/tags/20211102.0.tar.gz",
-            "https://github.com/abseil/abseil-cpp/archive/refs/tags/20211102.0.tar.gz",
+            "https://mirror.bazel.build/github.com/abseil/abseil-cpp/archive/refs/tags/20220623.1.tar.gz",
+            "https://github.com/abseil/abseil-cpp/archive/refs/tags/20220623.1.tar.gz",
         ],
         "used_in": [
             "additional_distfiles",
             "test_WORKSPACE_files",
         ],
-        "strip_prefix": "abseil-cpp-20211102.0",
+        "strip_prefix": "abseil-cpp-20220623.1",
         "license_kinds": [
             "@rules_license//licenses/generic:notice",
         ],
         "license_text": "LICENSE",
-        "package_version": "2021-11-02.0",
+        "package_version": "20220623.1",
     },
     "zstd-jni": {
         "archive": "v1.5.2-3.zip",
diff --git a/third_party/grpc/grpc_1.47.0.patch b/third_party/grpc/grpc_1.47.0.patch
index 6e54417a53585d..c7639c587ffc54 100644
--- a/third_party/grpc/grpc_1.47.0.patch
+++ b/third_party/grpc/grpc_1.47.0.patch
@@ -1,3 +1,25 @@
+Subject: [PATCH] Bump MSVC version check regarding compile-time initialization
+ to 1930
+
+This is needed to be compatible with this change in abseil-cpp:
+b8bbe92f84ffe1e249016cfe8b79efdffb7a35c1
+---
+ src/core/lib/gprpp/status_helper.cc | 2 +-
+ 1 file changed, 1 insertion(+), 1 deletion(-)
+
+diff --git a/src/core/lib/gprpp/status_helper.cc b/src/core/lib/gprpp/status_helper.cc
+index f981df8601..f6e5a211db 100644
+--- a/src/core/lib/gprpp/status_helper.cc
++++ b/src/core/lib/gprpp/status_helper.cc
+@@ -224,7 +224,7 @@ absl::optional<std::string> StatusGetStr(const absl::Status& status,
+ 
+ void StatusSetTime(absl::Status* status, StatusTimeProperty key,
+                    absl::Time time) {
+-#if !defined(__clang__) && defined(_MSC_VER) && _MSC_VER < 1910
++#if !defined(__clang__) && defined(_MSC_VER) && _MSC_VER < 1930
+   // Abseil has a workaround for MSVC 2015 which prevents absl::Time
+   // from being is_trivially_copyable but it's still safe to be
+   // memcopied.
 diff --git a/bazel/grpc_build_system.bzl b/bazel/grpc_build_system.bzl
 index 7bb6b8bdb9..7644107b70 100644
 --- a/bazel/grpc_build_system.bzl