diff --git a/package.json b/package.json
index f13a413c5cc..4a1ae575e3a 100644
--- a/package.json
+++ b/package.json
@@ -126,7 +126,7 @@
     "rimraf": "^3.0.2",
     "ts-jest": "^25.3.0",
     "typescript": "^3.9.5",
-    "webpack": "^4.42.0",
+    "webpack": "^4.43.0",
     "yeoman-test": "^2.3.0"
   }
 }
diff --git a/packages/utils/package.json b/packages/utils/package.json
index 508d16f6fbe..68f9d693e52 100644
--- a/packages/utils/package.json
+++ b/packages/utils/package.json
@@ -20,6 +20,9 @@
     "yeoman-environment": "2.8.1",
     "yeoman-generator": "4.7.2"
   },
+  "peerDependencies": {
+    "webpack": "4.x.x || 5.x.x"
+  },
   "devDependencies": {
     "@types/got": "9.6.9",
     "@types/prettier": "1.19.0",
diff --git a/packages/utils/src/isWebpack5.ts b/packages/utils/src/isWebpack5.ts
new file mode 100644
index 00000000000..54a92f32543
--- /dev/null
+++ b/packages/utils/src/isWebpack5.ts
@@ -0,0 +1,3 @@
+import { version } from 'webpack';
+
+export const isWebpack5 = (): boolean => version.startsWith('5');
diff --git a/packages/utils/src/prop-types.ts b/packages/utils/src/prop-types.ts
index 06973147222..ac0a8005f25 100644
--- a/packages/utils/src/prop-types.ts
+++ b/packages/utils/src/prop-types.ts
@@ -1,38 +1,47 @@
+import { isWebpack5 } from './isWebpack5';
+import { config } from 'webpack';
+
+let configKeys;
+if (isWebpack5()) {
+    configKeys = Object.keys(config.getNormalizedWebpackOptions({}));
+} else {
+    configKeys = [
+        'amd',
+        'bail',
+        'cache',
+        'context',
+        'devServer',
+        'devtool',
+        'entry',
+        'externals',
+        'merge',
+        'mode',
+        'module',
+        'node',
+        'optimization',
+        'output',
+        'parallelism',
+        'performance',
+        'plugins',
+        'profile',
+        'recordsInputPath',
+        'recordsOutputPath',
+        'recordsPath',
+        'resolve',
+        'resolveLoader',
+        'splitChunks',
+        'stats',
+        'target',
+        'topScope',
+        'watch',
+        'watchOptions',
+    ];
+}
+
 /**
  *
  * A Set of all accepted properties
  *
  * @returns {Set} A new set with accepted webpack properties
  */
-
-export const PROP_TYPES: Set<string> = new Set([
-    'amd',
-    'bail',
-    'cache',
-    'context',
-    'devServer',
-    'devtool',
-    'entry',
-    'externals',
-    'merge',
-    'mode',
-    'module',
-    'node',
-    'optimization',
-    'output',
-    'parallelism',
-    'performance',
-    'plugins',
-    'profile',
-    'recordsInputPath',
-    'recordsOutputPath',
-    'recordsPath',
-    'resolve',
-    'resolveLoader',
-    'splitChunks',
-    'stats',
-    'target',
-    'topScope',
-    'watch',
-    'watchOptions',
-]);
+export const PROP_TYPES: Set<string> = new Set(configKeys);
diff --git a/yarn.lock b/yarn.lock
index 0c8a1f39bf4..5e4bd2d4c4a 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -11959,7 +11959,7 @@ webpack-sources@^1.4.0, webpack-sources@^1.4.1:
     source-list-map "^2.0.0"
     source-map "~0.6.1"
 
-webpack@4.x.x, webpack@^4.42.0:
+webpack@4.x.x, webpack@^4.43.0:
   version "4.43.0"
   resolved "https://registry.yarnpkg.com/webpack/-/webpack-4.43.0.tgz#c48547b11d563224c561dad1172c8aa0b8a678e6"
   integrity sha512-GW1LjnPipFW2Y78OOab8NJlCflB7EFskMih2AHdvjbpKMeDJqEgSx24cXXXiPS65+WSwVyxtDsJH6jGX2czy+g==