diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3ead25375d..a7715d5755 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,17 @@
 # PowerShell Extension Release History
 
+## v2023.5.1-preview
+### Friday, May 12, 2023
+
+#### [vscode-powershell](https://github.com/PowerShell/vscode-powershell)
+
+- 🐛 📺 [vscode-powershell #4553](https://github.com/PowerShell/vscode-powershell/pull/4570) - Remove the MSI install logic (it's unreliable).
+
+#### [PowerShellEditorServices](https://github.com/PowerShell/PowerShellEditorServices) v3.8.5
+
+- 🐛 📟 [vscode-powershell #3991](https://github.com/PowerShell/PowerShellEditorServices/pull/2023) - Fix disappearing output in PowerShell 5.1.
+- 🐛 🔍 [PowerShellEditorServices #2020](https://github.com/PowerShell/PowerShellEditorServices/pull/2020) - Fix repeated failure to load DSC module.
+
 ## v2023.5.0
 ### Wednesday, May 03, 2023
 
diff --git a/package.json b/package.json
index 54a3b2e551..ca457c60f9 100644
--- a/package.json
+++ b/package.json
@@ -1,7 +1,7 @@
 {
   "name": "powershell",
   "displayName": "PowerShell",
-  "version": "2023.5.0",
+  "version": "2023.5.1",
   "preview": false,
   "publisher": "ms-vscode",
   "description": "Develop PowerShell modules, commands and scripts in Visual Studio Code!",