diff --git a/go.mod b/go.mod
index ce7694533..5611513f3 100644
--- a/go.mod
+++ b/go.mod
@@ -18,9 +18,9 @@ require (
 	github.com/vmware-tanzu/carvel-kapp-controller v0.46.2
 	golang.org/x/net v0.17.0
 	gopkg.in/yaml.v2 v2.4.0
-	k8s.io/api v0.28.2
-	k8s.io/apimachinery v0.28.2
-	k8s.io/client-go v0.28.2
+	k8s.io/api v0.28.3
+	k8s.io/apimachinery v0.28.3
+	k8s.io/client-go v0.28.3
 	sigs.k8s.io/yaml v1.3.0
 )
 
diff --git a/go.sum b/go.sum
index b59a018ea..996d24dc3 100644
--- a/go.sum
+++ b/go.sum
@@ -508,12 +508,12 @@ honnef.co/go/tools v0.0.0-20190102054323-c2f93a96b099/go.mod h1:rf3lG4BRIbNafJWh
 honnef.co/go/tools v0.0.0-20190106161140-3f1c8253044a/go.mod h1:rf3lG4BRIbNafJWhAfAdb/ePZxsR/4RtNHQocxwk9r4=
 honnef.co/go/tools v0.0.0-20190418001031-e561f6794a2a/go.mod h1:rf3lG4BRIbNafJWhAfAdb/ePZxsR/4RtNHQocxwk9r4=
 honnef.co/go/tools v0.0.1-2019.2.3/go.mod h1:a3bituU0lyd329TUQxRnasdCoJDkEUEAqEt0JzvZhAg=
-k8s.io/api v0.28.2 h1:9mpl5mOb6vXZvqbQmankOfPIGiudghwCoLl1EYfUZbw=
-k8s.io/api v0.28.2/go.mod h1:RVnJBsjU8tcMq7C3iaRSGMeaKt2TWEUXcpIt/90fjEg=
-k8s.io/apimachinery v0.28.2 h1:KCOJLrc6gu+wV1BYgwik4AF4vXOlVJPdiqn0yAWWwXQ=
-k8s.io/apimachinery v0.28.2/go.mod h1:RdzF87y/ngqk9H4z3EL2Rppv5jj95vGS/HaFXrLDApU=
-k8s.io/client-go v0.28.2 h1:DNoYI1vGq0slMBN/SWKMZMw0Rq+0EQW6/AK4v9+3VeY=
-k8s.io/client-go v0.28.2/go.mod h1:sMkApowspLuc7omj1FOSUxSoqjr+d5Q0Yc0LOFnYFJY=
+k8s.io/api v0.28.3 h1:Gj1HtbSdB4P08C8rs9AR94MfSGpRhJgsS+GF9V26xMM=
+k8s.io/api v0.28.3/go.mod h1:MRCV/jr1dW87/qJnZ57U5Pak65LGmQVkKTzf3AtKFHc=
+k8s.io/apimachinery v0.28.3 h1:B1wYx8txOaCQG0HmYF6nbpU8dg6HvA06x5tEffvOe7A=
+k8s.io/apimachinery v0.28.3/go.mod h1:uQTKmIqs+rAYaq+DFaoD2X7pcjLOqbQX2AOiO0nIpb8=
+k8s.io/client-go v0.28.3 h1:2OqNb72ZuTZPKCl+4gTKvqao0AMOl9f3o2ijbAj3LI4=
+k8s.io/client-go v0.28.3/go.mod h1:LTykbBp9gsA7SwqirlCXBWtK0guzfhpoW4qSm7i9dxo=
 k8s.io/klog/v2 v2.100.1 h1:7WCHKK6K8fNhTqfBhISHQ97KrnJNFZMcQvKp7gP/tmg=
 k8s.io/klog/v2 v2.100.1/go.mod h1:y1WjHnz7Dj687irZUWR/WLkLc5N1YHtjLdmgWjndZn0=
 k8s.io/kube-openapi v0.0.0-20230717233707-2695361300d9 h1:LyMgNKD2P8Wn1iAwQU5OhxCKlKJy0sHc+PcDwFB24dQ=
diff --git a/vendor/k8s.io/apimachinery/pkg/util/runtime/runtime.go b/vendor/k8s.io/apimachinery/pkg/util/runtime/runtime.go
index d738725ca..3674914f7 100644
--- a/vendor/k8s.io/apimachinery/pkg/util/runtime/runtime.go
+++ b/vendor/k8s.io/apimachinery/pkg/util/runtime/runtime.go
@@ -126,14 +126,17 @@ type rudimentaryErrorBackoff struct {
 // OnError will block if it is called more often than the embedded period time.
 // This will prevent overly tight hot error loops.
 func (r *rudimentaryErrorBackoff) OnError(error) {
+	now := time.Now() // start the timer before acquiring the lock
 	r.lastErrorTimeLock.Lock()
-	defer r.lastErrorTimeLock.Unlock()
-	d := time.Since(r.lastErrorTime)
-	if d < r.minPeriod {
-		// If the time moves backwards for any reason, do nothing
-		time.Sleep(r.minPeriod - d)
-	}
+	d := now.Sub(r.lastErrorTime)
 	r.lastErrorTime = time.Now()
+	r.lastErrorTimeLock.Unlock()
+
+	// Do not sleep with the lock held because that causes all callers of HandleError to block.
+	// We only want the current goroutine to block.
+	// A negative or zero duration causes time.Sleep to return immediately.
+	// If the time moves backwards for any reason, do nothing.
+	time.Sleep(r.minPeriod - d)
 }
 
 // GetCaller returns the caller of the function that calls it.
diff --git a/vendor/modules.txt b/vendor/modules.txt
index 70a758bf1..a8bc1aaea 100644
--- a/vendor/modules.txt
+++ b/vendor/modules.txt
@@ -236,7 +236,7 @@ gopkg.in/yaml.v2
 # gopkg.in/yaml.v3 v3.0.1
 ## explicit
 gopkg.in/yaml.v3
-# k8s.io/api v0.28.2
+# k8s.io/api v0.28.3
 ## explicit; go 1.20
 k8s.io/api/admissionregistration/v1
 k8s.io/api/admissionregistration/v1alpha1
@@ -290,7 +290,7 @@ k8s.io/api/scheduling/v1beta1
 k8s.io/api/storage/v1
 k8s.io/api/storage/v1alpha1
 k8s.io/api/storage/v1beta1
-# k8s.io/apimachinery v0.28.2
+# k8s.io/apimachinery v0.28.3
 ## explicit; go 1.20
 k8s.io/apimachinery/pkg/api/equality
 k8s.io/apimachinery/pkg/api/errors
@@ -333,7 +333,7 @@ k8s.io/apimachinery/pkg/util/yaml
 k8s.io/apimachinery/pkg/version
 k8s.io/apimachinery/pkg/watch
 k8s.io/apimachinery/third_party/forked/golang/reflect
-# k8s.io/client-go v0.28.2
+# k8s.io/client-go v0.28.3
 ## explicit; go 1.20
 k8s.io/client-go/applyconfigurations/admissionregistration/v1
 k8s.io/client-go/applyconfigurations/admissionregistration/v1alpha1