diff --git a/.pre-commit-config.yaml b/.pre-commit-config.yaml
index f9612bbf0..761959ea1 100644
--- a/.pre-commit-config.yaml
+++ b/.pre-commit-config.yaml
@@ -32,7 +32,7 @@ repos:
   rev: v1.12.1
   hooks:
   - id: blacken-docs
-    additional_dependencies: [black==22.6]
+    additional_dependencies: [black==22.10]
 - repo: https://github.com/pre-commit/pygrep-hooks
   rev: v1.9.0
   hooks:
@@ -52,10 +52,10 @@ repos:
   hooks:
   - id: flake8
     additional_dependencies:
-      - flake8-bugbear==22.7.1
+      - flake8-bugbear==22.10.25
       - flake8-comprehensions==3.10
       - flake8-pytest-style==1.6
       - flake8-spellcheck==0.28
-      - flake8-unused-arguments==0.0.11
+      - flake8-unused-arguments==0.0.12
       - flake8-noqa==1.2.9
       - pep8-naming==0.13.2
diff --git a/docs/changelog/2434.bugfix.rst b/docs/changelog/2434.bugfix.rst
new file mode 100644
index 000000000..f35974726
--- /dev/null
+++ b/docs/changelog/2434.bugfix.rst
@@ -0,0 +1 @@
+Upgrade embedded setuptools to ``65.5.0`` from ``65.3.0`` and pip to ``22.3`` from ``22.2.2`` - by :user:`gaborbernat`.
diff --git a/setup.cfg b/setup.cfg
index 12016fb3f..2b754068e 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -33,7 +33,7 @@ project_urls =
 [options]
 packages = find:
 install_requires =
-    distlib>=0.3.5,<1
+    distlib>=0.3.6,<1
     filelock>=3.4.1,<4
     platformdirs>=2.4,<3
     importlib-metadata>=4.8.3;python_version < "3.8"
@@ -79,10 +79,10 @@ virtualenv.seed =
 [options.extras_require]
 docs =
     proselint>=0.13
-    sphinx>=5.1.1
-    sphinx-argparse>=0.3.1
+    sphinx>=5.3
+    sphinx-argparse>=0.3.2
     sphinx-rtd-theme>=1
-    towncrier>=21.9
+    towncrier>=22.8
 testing =
     coverage>=6.2
     coverage-enable-subprocess>=1
diff --git a/src/virtualenv/activation/activator.py b/src/virtualenv/activation/activator.py
index fb813bc7d..99f2803bc 100644
--- a/src/virtualenv/activation/activator.py
+++ b/src/virtualenv/activation/activator.py
@@ -22,7 +22,7 @@ def supports(cls, interpreter):  # noqa: U100
         return True
 
     @classmethod
-    def add_parser_arguments(cls, parser, interpreter):  # noqa: U100
+    def add_parser_arguments(cls, parser, interpreter):  # noqa: U100,B027
         """
         Add CLI arguments for this activation script.
 
diff --git a/src/virtualenv/seed/wheels/embed/__init__.py b/src/virtualenv/seed/wheels/embed/__init__.py
index 70ea23c4b..3bd41ba37 100644
--- a/src/virtualenv/seed/wheels/embed/__init__.py
+++ b/src/virtualenv/seed/wheels/embed/__init__.py
@@ -5,28 +5,28 @@
 BUNDLE_FOLDER = Path(__file__).absolute().parent
 BUNDLE_SUPPORT = {
     "3.11": {
-        "pip": "pip-22.2.2-py3-none-any.whl",
-        "setuptools": "setuptools-65.3.0-py3-none-any.whl",
+        "pip": "pip-22.3-py3-none-any.whl",
+        "setuptools": "setuptools-65.5.0-py3-none-any.whl",
         "wheel": "wheel-0.37.1-py2.py3-none-any.whl",
     },
     "3.10": {
-        "pip": "pip-22.2.2-py3-none-any.whl",
-        "setuptools": "setuptools-65.3.0-py3-none-any.whl",
+        "pip": "pip-22.3-py3-none-any.whl",
+        "setuptools": "setuptools-65.5.0-py3-none-any.whl",
         "wheel": "wheel-0.37.1-py2.py3-none-any.whl",
     },
     "3.9": {
-        "pip": "pip-22.2.2-py3-none-any.whl",
-        "setuptools": "setuptools-65.3.0-py3-none-any.whl",
+        "pip": "pip-22.3-py3-none-any.whl",
+        "setuptools": "setuptools-65.5.0-py3-none-any.whl",
         "wheel": "wheel-0.37.1-py2.py3-none-any.whl",
     },
     "3.8": {
-        "pip": "pip-22.2.2-py3-none-any.whl",
-        "setuptools": "setuptools-65.3.0-py3-none-any.whl",
+        "pip": "pip-22.3-py3-none-any.whl",
+        "setuptools": "setuptools-65.5.0-py3-none-any.whl",
         "wheel": "wheel-0.37.1-py2.py3-none-any.whl",
     },
     "3.7": {
-        "pip": "pip-22.2.2-py3-none-any.whl",
-        "setuptools": "setuptools-65.3.0-py3-none-any.whl",
+        "pip": "pip-22.3-py3-none-any.whl",
+        "setuptools": "setuptools-65.5.0-py3-none-any.whl",
         "wheel": "wheel-0.37.1-py2.py3-none-any.whl",
     },
     "3.6": {
diff --git a/src/virtualenv/seed/wheels/embed/pip-22.2.2-py3-none-any.whl b/src/virtualenv/seed/wheels/embed/pip-22.3-py3-none-any.whl
similarity index 62%
rename from src/virtualenv/seed/wheels/embed/pip-22.2.2-py3-none-any.whl
rename to src/virtualenv/seed/wheels/embed/pip-22.3-py3-none-any.whl
index 03099718b..d6fccd9de 100644
Binary files a/src/virtualenv/seed/wheels/embed/pip-22.2.2-py3-none-any.whl and b/src/virtualenv/seed/wheels/embed/pip-22.3-py3-none-any.whl differ
diff --git a/src/virtualenv/seed/wheels/embed/setuptools-65.3.0-py3-none-any.whl b/src/virtualenv/seed/wheels/embed/setuptools-65.5.0-py3-none-any.whl
similarity index 90%
rename from src/virtualenv/seed/wheels/embed/setuptools-65.3.0-py3-none-any.whl
rename to src/virtualenv/seed/wheels/embed/setuptools-65.5.0-py3-none-any.whl
index 1422fc9ec..123a13e2c 100644
Binary files a/src/virtualenv/seed/wheels/embed/setuptools-65.3.0-py3-none-any.whl and b/src/virtualenv/seed/wheels/embed/setuptools-65.5.0-py3-none-any.whl differ
diff --git a/tox.ini b/tox.ini
index 567e30d2d..35bda8a10 100644
--- a/tox.ini
+++ b/tox.ini
@@ -113,7 +113,7 @@ passenv =
     UPGRADE_ADVISORY
 skip_install = true
 deps =
-    black>=22.6
+    black>=22.10
 changedir = {toxinidir}/tasks
 commands =
     python upgrade_wheels.py
@@ -124,9 +124,9 @@ passenv =
     *
 basepython = python3.10
 deps =
-    gitpython>=3.1.27
+    gitpython>=3.1.29
     packaging>=21.3
-    towncrier>=21.9
+    towncrier>=22.8
 changedir = {toxinidir}/tasks
 commands =
     python release.py --version {posargs}