diff --git a/CHANGELOG.md b/CHANGELOG.md
index 439fcca7..206a5d6d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,11 +2,33 @@
 
 All notable changes to this project are documented in this file.
 
+## 0.22.2
+
+**Release date:** 2022-03-25
+
+This prerelease fixes a regression bug where the SOPS keyservice would not
+properly fall back to the default server for Azure Key Vault decryption
+requests.
+
+In addition, Kustomize has been updated to `v4.5.3` to address an issue with
+YAML anchors.
+
+Improvements:
+- Update Kustomize to v4.5.3
+  [#594](https://github.com/fluxcd/kustomize-controller/pull/597)
+- Update source-controller API to v0.22.3
+  [#596](https://github.com/fluxcd/kustomize-controller/pull/596)
+
+Fixes:
+- sops/keyservice: properly fallback to default
+  [#597](https://github.com/fluxcd/kustomize-controller/pull/597)
+
 ## 0.22.1
 
 **Release date:** 2022-03-24
 
-This prerelease fixes a regression bug where alerts are sent for every reconciliation run.
+This prerelease fixes a regression bug where alerts are sent for every
+reconciliation run.
 
 Fixes:
 - Ensure event annotations are prefixed with Group FQDN
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index ea065bf7..b8e6414a 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
   - name: fluxcd/kustomize-controller
     newName: fluxcd/kustomize-controller
-    newTag: v0.22.1
+    newTag: v0.22.2
diff --git a/go.mod b/go.mod
index ccd62aec..25635a20 100644
--- a/go.mod
+++ b/go.mod
@@ -13,7 +13,7 @@ require (
 	github.com/cyphar/filepath-securejoin v0.2.3
 	github.com/dimchansky/utfbom v1.1.1
 	github.com/drone/envsubst v1.0.3
-	github.com/fluxcd/kustomize-controller/api v0.22.1
+	github.com/fluxcd/kustomize-controller/api v0.22.2
 	github.com/fluxcd/pkg/apis/acl v0.0.3
 	github.com/fluxcd/pkg/apis/kustomize v0.3.2
 	github.com/fluxcd/pkg/apis/meta v0.12.1