diff --git a/ui/apps/platform/package.json b/ui/apps/platform/package.json
index 5a3cb0c592989..0d034d0ef5d11 100644
--- a/ui/apps/platform/package.json
+++ b/ui/apps/platform/package.json
@@ -48,7 +48,7 @@
         "mobx-react": "^7.5.3",
         "monaco-editor": "^0.21.3",
         "monaco-editor-webpack-plugin": "^2.1.0",
-        "monaco-yaml": "^4.0.4",
+        "monaco-yaml": "^5.1.1",
         "object-resolve-path": "^1.1.1",
         "pluralize": "^8.0.0",
         "prop-types": "^15.7.2",
diff --git a/ui/apps/platform/src/Containers/NetworkGraph/simulation/NetworkPoliciesYAML.tsx b/ui/apps/platform/src/Containers/NetworkGraph/simulation/NetworkPoliciesYAML.tsx
index 74ac00b93863f..150a1e033dbf8 100644
--- a/ui/apps/platform/src/Containers/NetworkGraph/simulation/NetworkPoliciesYAML.tsx
+++ b/ui/apps/platform/src/Containers/NetworkGraph/simulation/NetworkPoliciesYAML.tsx
@@ -51,7 +51,9 @@ function NetworkPoliciesYAML({
         <CodeEditorControl
             icon={<DownloadIcon />}
             aria-label={labels.downloadYAML}
-            toolTipText={labels.downloadYAML}
+            tooltipProps={{
+                content: labels.downloadYAML,
+            }}
             onClick={downloadYAMLHandler('networkPolicy', yaml)}
             isVisible
         />
diff --git a/ui/apps/platform/src/index.tsx b/ui/apps/platform/src/index.tsx
index 2ae2212a017e1..199584f569c6c 100644
--- a/ui/apps/platform/src/index.tsx
+++ b/ui/apps/platform/src/index.tsx
@@ -14,7 +14,8 @@ import { ApolloProvider } from '@apollo/client';
 import 'css.imports';
 
 import { configure as mobxConfigure } from 'mobx';
-import { setDiagnosticsOptions } from 'monaco-yaml';
+import * as monaco from 'monaco-editor';
+import { configureMonacoYaml } from 'monaco-yaml';
 
 import ErrorBoundary from 'Components/PatternFly/ErrorBoundary/ErrorBoundary';
 import AppPage from 'Containers/AppPage';
@@ -29,7 +30,7 @@ import configureApollo from './configureApolloClient';
 
 // This enables syntax highlighting for the patternfly code editor
 // Reference: https://github.com/patternfly/patternfly-react/tree/main/packages/react-code-editor#enable-yaml-syntax-highlighting
-setDiagnosticsOptions({
+configureMonacoYaml(monaco, {
     enableSchemaRequest: true,
     hover: true,
     completion: true,
diff --git a/ui/yarn.lock b/ui/yarn.lock
index 7fa97d08718a6..8008e0365072e 100644
--- a/ui/yarn.lock
+++ b/ui/yarn.lock
@@ -12272,24 +12272,40 @@ monaco-editor@^0.21.3:
   resolved "https://registry.yarnpkg.com/monaco-editor/-/monaco-editor-0.21.3.tgz#3381b66614b64d1c5e3b77dd5564ad496d1b4e5d"
   integrity sha512-9N7wATLpi+googstvtm6IKg97vPQ77FDYEpkow5tLriM/VJ0DaTRyUP4UVzcoH7KlPDX+e/rE7/imcOUeGkT6g==
 
+monaco-languageserver-types@^0.3.0:
+  version "0.3.3"
+  resolved "https://registry.yarnpkg.com/monaco-languageserver-types/-/monaco-languageserver-types-0.3.3.tgz#bb8e27d9b9f1c4d2160682587b15bb507358d9f3"
+  integrity sha512-4uJ6XaVwVamOQ1SXfBGusAqL4fTn7ZJzaybEinr2U5ZX7AKSjsbXWlu0X3Ah+hyefn+85+Ca7GZwbI87g55C8Q==
+  dependencies:
+    monaco-types "^0.1.0"
+    vscode-languageserver-protocol "^3.0.0"
+    vscode-uri "^3.0.0"
+
 monaco-marker-data-provider@^1.0.0:
   version "1.1.1"
   resolved "https://registry.yarnpkg.com/monaco-marker-data-provider/-/monaco-marker-data-provider-1.1.1.tgz#0ca69f367152f5aa12cec2bda95f32b7403e876f"
   integrity sha512-PGB7TJSZE5tmHzkxv/OEwK2RGNC2A7dcq4JRJnnj31CUAsfmw0Gl+1QTrH0W0deKhcQmQM0YVPaqgQ+0wCt8Mg==
 
+monaco-types@^0.1.0:
+  version "0.1.0"
+  resolved "https://registry.yarnpkg.com/monaco-types/-/monaco-types-0.1.0.tgz#3a3066aba499cb5923cd60efc736f3f14a169e10"
+  integrity sha512-aWK7SN9hAqNYi0WosPoMjenMeXJjwCxDibOqWffyQ/qXdzB/86xshGQobRferfmNz7BSNQ8GB0MD0oby9/5fTQ==
+
 monaco-worker-manager@^2.0.0:
   version "2.0.1"
   resolved "https://registry.yarnpkg.com/monaco-worker-manager/-/monaco-worker-manager-2.0.1.tgz#f67c54dfca34ed4b225d5de84e77b24b4e36de8a"
   integrity sha512-kdPL0yvg5qjhKPNVjJoym331PY/5JC11aPJXtCZNwWRvBr6jhkIamvYAyiY5P1AWFmNOy0aRDRoMdZfa71h8kg==
 
-monaco-yaml@^4.0.4:
-  version "4.0.4"
-  resolved "https://registry.yarnpkg.com/monaco-yaml/-/monaco-yaml-4.0.4.tgz#b05283a5539bf109d228982bd25772664651af96"
-  integrity sha512-qbM36fY1twpDUs4lhhxoXDQGUPVyYAFCPJi3E0JKgLioD8wzsD/pawgauFFXSzpMa09z8wbt/DTLXjXEehnVFA==
+monaco-yaml@^5.1.1:
+  version "5.1.1"
+  resolved "https://registry.yarnpkg.com/monaco-yaml/-/monaco-yaml-5.1.1.tgz#932ad3790707d6598eea2f71102e400a9a6dc074"
+  integrity sha512-BuZ0/ZCGjrPNRzYMZ/MoxH8F/SdM+mATENXnpOhDYABi1Eh+QvxSszEct+ACSCarZiwLvy7m6yEF/pvW8XJkyQ==
   dependencies:
     "@types/json-schema" "^7.0.0"
     jsonc-parser "^3.0.0"
+    monaco-languageserver-types "^0.3.0"
     monaco-marker-data-provider "^1.0.0"
+    monaco-types "^0.1.0"
     monaco-worker-manager "^2.0.0"
     path-browserify "^1.0.0"
     prettier "^2.0.0"
@@ -17786,11 +17802,29 @@ victory-zoom-container@^36.6.7, victory-zoom-container@^36.6.8:
     prop-types "^15.8.1"
     victory-core "^36.6.8"
 
+vscode-jsonrpc@8.2.0:
+  version "8.2.0"
+  resolved "https://registry.yarnpkg.com/vscode-jsonrpc/-/vscode-jsonrpc-8.2.0.tgz#f43dfa35fb51e763d17cd94dcca0c9458f35abf9"
+  integrity sha512-C+r0eKJUIfiDIfwJhria30+TYWPtuHJXHtI7J0YlOmKAo7ogxP20T0zxB7HZQIFhIyvoBPwWskjxrvAtfjyZfA==
+
+vscode-languageserver-protocol@^3.0.0:
+  version "3.17.5"
+  resolved "https://registry.yarnpkg.com/vscode-languageserver-protocol/-/vscode-languageserver-protocol-3.17.5.tgz#864a8b8f390835572f4e13bd9f8313d0e3ac4bea"
+  integrity sha512-mb1bvRJN8SVznADSGWM9u/b07H7Ecg0I3OgXDuLdn307rl/J3A9YD6/eYOssqhecL27hK1IPZAsaqh00i/Jljg==
+  dependencies:
+    vscode-jsonrpc "8.2.0"
+    vscode-languageserver-types "3.17.5"
+
 vscode-languageserver-textdocument@^1.0.0:
   version "1.0.8"
   resolved "https://registry.yarnpkg.com/vscode-languageserver-textdocument/-/vscode-languageserver-textdocument-1.0.8.tgz#9eae94509cbd945ea44bca8dcfe4bb0c15bb3ac0"
   integrity sha512-1bonkGqQs5/fxGT5UchTgjGVnfysL0O8v1AYMBjqTbWQTFn721zaPGDYFkOKtfDgFiSgXM3KwaG3FMGfW4Ed9Q==
 
+vscode-languageserver-types@3.17.5:
+  version "3.17.5"
+  resolved "https://registry.yarnpkg.com/vscode-languageserver-types/-/vscode-languageserver-types-3.17.5.tgz#3273676f0cf2eab40b3f44d085acbb7f08a39d8a"
+  integrity sha512-Ld1VelNuX9pdF39h2Hgaeb5hEZM2Z3jUrrMgWQAu82jMtZp7p3vJT3BzToKtZI7NgQssZje5o0zryOrhQvzQAg==
+
 vscode-languageserver-types@^3.0.0:
   version "3.17.3"
   resolved "https://registry.yarnpkg.com/vscode-languageserver-types/-/vscode-languageserver-types-3.17.3.tgz#72d05e47b73be93acb84d6e311b5786390f13f64"