diff --git a/build/util/Dockerfile b/build/util/Dockerfile
index 72ad77299..6803d0ca8 100644
--- a/build/util/Dockerfile
+++ b/build/util/Dockerfile
@@ -1,5 +1,5 @@
-# Argo CD v2.10.1
-FROM quay.io/argoproj/argocd@sha256:5f1de1b4d959868c1e006e08d46361c8f019d9730e74bc1feeab8c7b413f1187 as argocd
+# Argo CD v2.10.5
+FROM quay.io/argoproj/argocd@sha256:5cfead7ae4c50884873c042250d51373f3a8904a210f3ab6d88fcebfcfb0c03a as argocd
 
 # Final Image
 FROM docker.io/library/ubuntu:22.04
diff --git a/bundle/manifests/argoproj.io_applicationsets.yaml b/bundle/manifests/argoproj.io_applicationsets.yaml
index 3c20a763c..8cda84338 100644
--- a/bundle/manifests/argoproj.io_applicationsets.yaml
+++ b/bundle/manifests/argoproj.io_applicationsets.yaml
@@ -2371,8 +2371,6 @@ spec:
                           - metadata
                           - spec
                           type: object
-                      required:
-                      - elements
                       type: object
                     matrix:
                       properties:
@@ -4715,8 +4713,6 @@ spec:
                                     - metadata
                                     - spec
                                     type: object
-                                required:
-                                - elements
                                 type: object
                               matrix:
                                 x-kubernetes-preserve-unknown-fields: true
@@ -9742,8 +9738,6 @@ spec:
                                     - metadata
                                     - spec
                                     type: object
-                                required:
-                                - elements
                                 type: object
                               matrix:
                                 x-kubernetes-preserve-unknown-fields: true
diff --git a/common/defaults.go b/common/defaults.go
index bbf4cd147..a06c9f319 100644
--- a/common/defaults.go
+++ b/common/defaults.go
@@ -64,7 +64,7 @@ const (
 	ArgoCDDefaultArgoImage = "quay.io/argoproj/argocd"
 
 	// ArgoCDDefaultArgoVersion is the Argo CD container image digest to use when version not specified.
-	ArgoCDDefaultArgoVersion = "sha256:5f1de1b4d959868c1e006e08d46361c8f019d9730e74bc1feeab8c7b413f1187" // v2.10.1
+	ArgoCDDefaultArgoVersion = "sha256:5cfead7ae4c50884873c042250d51373f3a8904a210f3ab6d88fcebfcfb0c03a" // v2.10.5
 
 	// ArgoCDDefaultBackupKeyLength is the length of the generated default backup key.
 	ArgoCDDefaultBackupKeyLength = 32
diff --git a/config/crd/bases/argoproj.io_applicationsets.yaml b/config/crd/bases/argoproj.io_applicationsets.yaml
index 6b8babdc2..1351a24ff 100644
--- a/config/crd/bases/argoproj.io_applicationsets.yaml
+++ b/config/crd/bases/argoproj.io_applicationsets.yaml
@@ -2370,8 +2370,6 @@ spec:
                           - metadata
                           - spec
                           type: object
-                      required:
-                      - elements
                       type: object
                     matrix:
                       properties:
@@ -4714,8 +4712,6 @@ spec:
                                     - metadata
                                     - spec
                                     type: object
-                                required:
-                                - elements
                                 type: object
                               matrix:
                                 x-kubernetes-preserve-unknown-fields: true
@@ -9741,8 +9737,6 @@ spec:
                                     - metadata
                                     - spec
                                     type: object
-                                required:
-                                - elements
                                 type: object
                               matrix:
                                 x-kubernetes-preserve-unknown-fields: true
diff --git a/controllers/argocd/dex_test.go b/controllers/argocd/dex_test.go
index 0b058288d..707c79788 100644
--- a/controllers/argocd/dex_test.go
+++ b/controllers/argocd/dex_test.go
@@ -499,7 +499,7 @@ func TestReconcileArgoCD_reconcileDexDeployment_withUpdate(t *testing.T) {
 				InitContainers: []corev1.Container{
 					{
 						Name:  "copyutil",
-						Image: "quay.io/argoproj/argocd@sha256:5f1de1b4d959868c1e006e08d46361c8f019d9730e74bc1feeab8c7b413f1187",
+						Image: "quay.io/argoproj/argocd@" + common.ArgoCDDefaultArgoVersion,
 						Command: []string{
 							"cp",
 							"-n",
diff --git a/deploy/olm-catalog/argocd-operator/0.9.0/argoproj.io_applicationsets.yaml b/deploy/olm-catalog/argocd-operator/0.9.0/argoproj.io_applicationsets.yaml
index 3c20a763c..8cda84338 100644
--- a/deploy/olm-catalog/argocd-operator/0.9.0/argoproj.io_applicationsets.yaml
+++ b/deploy/olm-catalog/argocd-operator/0.9.0/argoproj.io_applicationsets.yaml
@@ -2371,8 +2371,6 @@ spec:
                           - metadata
                           - spec
                           type: object
-                      required:
-                      - elements
                       type: object
                     matrix:
                       properties:
@@ -4715,8 +4713,6 @@ spec:
                                     - metadata
                                     - spec
                                     type: object
-                                required:
-                                - elements
                                 type: object
                               matrix:
                                 x-kubernetes-preserve-unknown-fields: true
@@ -9742,8 +9738,6 @@ spec:
                                     - metadata
                                     - spec
                                     type: object
-                                required:
-                                - elements
                                 type: object
                               matrix:
                                 x-kubernetes-preserve-unknown-fields: true
diff --git a/go.mod b/go.mod
index dbabd8a2d..30a741bed 100644
--- a/go.mod
+++ b/go.mod
@@ -3,7 +3,7 @@ module github.com/argoproj-labs/argocd-operator
 go 1.21
 
 require (
-	github.com/argoproj/argo-cd/v2 v2.10.1
+	github.com/argoproj/argo-cd/v2 v2.10.5
 	github.com/coreos/prometheus-operator v0.40.0
 	github.com/go-logr/logr v1.3.0
 	github.com/google/go-cmp v0.6.0
diff --git a/go.sum b/go.sum
index 0055c102d..05fcb3e63 100644
--- a/go.sum
+++ b/go.sum
@@ -649,8 +649,8 @@ github.com/apache/arrow/go/v11 v11.0.0/go.mod h1:Eg5OsL5H+e299f7u5ssuXsuHQVEGC4x
 github.com/apache/thrift v0.12.0/go.mod h1:cp2SuWMxlEZw2r+iP2GNCdIi4C1qmUzdZFSVb+bacwQ=
 github.com/apache/thrift v0.13.0/go.mod h1:cp2SuWMxlEZw2r+iP2GNCdIi4C1qmUzdZFSVb+bacwQ=
 github.com/apache/thrift v0.16.0/go.mod h1:PHK3hniurgQaNMZYaCLEqXKsYK8upmhPbmdP2FXSqgU=
-github.com/argoproj/argo-cd/v2 v2.10.1 h1:VD06GPeoq14Bo7IfiW+EKim3T1C9xaMElVrEtw+zll0=
-github.com/argoproj/argo-cd/v2 v2.10.1/go.mod h1:SK1uGZ9xWVzxuyg079MaO6+hz/Oz9wSDkGyT0gEkYSs=
+github.com/argoproj/argo-cd/v2 v2.10.5 h1:2YSZPjNY3KyE1kme2U54uAAicEn/4zyQ3aAkqkyW8UA=
+github.com/argoproj/argo-cd/v2 v2.10.5/go.mod h1:nujAuswdQvB6yWI8HubQjfUiLdiIlKlG0ihx2Ht1D28=
 github.com/argoproj/pkg v0.13.7-0.20230626144333-d56162821bd1 h1:qsHwwOJ21K2Ao0xPju1sNuqphyMnMYkyB3ZLoLtxWpo=
 github.com/argoproj/pkg v0.13.7-0.20230626144333-d56162821bd1/go.mod h1:CZHlkyAD1/+FbEn6cB2DQTj48IoLGvEYsWEvtzP3238=
 github.com/armon/circbuf v0.0.0-20150827004946-bbbad097214e/go.mod h1:3U/XgcO3hCbHZ8TKRvWD2dDTCfh9M9ya+I9JpbB7O8o=