diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2e3e4133..8098d1c8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -25,6 +25,7 @@ Versioning](https://semver.org/spec/v2.0.0.html).
 - This release includes a workaround to make bitsery compile with GCC 13 due to
   changes in transitive header includes.
 - The asio dependency has been updated to target version 1.28.2.
+- The function2 dependency has been updated to version 4.2.3.
 - The tomlplusplus dependency has been updated to target version 3.4.0.
 
 ## [5.0.5] - 2023-05-07
diff --git a/subprojects/function2.wrap b/subprojects/function2.wrap
index 1a980510..7dd05919 100644
--- a/subprojects/function2.wrap
+++ b/subprojects/function2.wrap
@@ -1,7 +1,7 @@
 [wrap-git]
 url = https://github.com/Naios/function2.git
-# Tag 4.2.0
-revision = 02ca99831de59c7c3a4b834789260253cace0ced
+# Tag 4.2.3
+revision = 9e303865d14f1204f09379e37bbeb30c4375139a
 depth = 1
 patch_directory = function2
 
diff --git a/subprojects/packagefiles/function2/meson.build b/subprojects/packagefiles/function2/meson.build
index d871d1c5..dd6699e5 100644
--- a/subprojects/packagefiles/function2/meson.build
+++ b/subprojects/packagefiles/function2/meson.build
@@ -1,3 +1,3 @@
-project('function2', 'cpp', version : '4.2.0')
+project('function2', 'cpp', version : '4.2.3')
 
 function2_dep = declare_dependency(include_directories : include_directories('include'))