diff --git a/.changeset/eleven-vans-refuse.md b/.changeset/eleven-vans-refuse.md
new file mode 100644
index 00000000000..a845151cc84
--- /dev/null
+++ b/.changeset/eleven-vans-refuse.md
@@ -0,0 +1,2 @@
+---
+---
diff --git a/package.json b/package.json
index 91d39ddfaa7..9c9dc53f688 100644
--- a/package.json
+++ b/package.json
@@ -140,7 +140,7 @@
     "tailwindcss": "^3.3.5",
     "ts-jest": "^29.1.1",
     "turbo": "^1.10.16",
-    "typescript": "^4.9.5",
+    "typescript": "^5.3.2",
     "webpack": "^5.89.0"
   }
 }
diff --git a/packages/components/package.json b/packages/components/package.json
index 7f7be257194..8e259e31ebb 100644
--- a/packages/components/package.json
+++ b/packages/components/package.json
@@ -126,7 +126,7 @@
     "serialize-query-params": "^2.0.2",
     "svgo": "^3.0.4",
     "ts-jest": "^29.1.1",
-    "ttypescript": "^1.5.15",
+    "ts-patch": "^3.0.2",
     "typescript-transform-paths": "^3.4.6"
   },
   "peerDependencies": {
diff --git a/packages/components/rollup.config.mjs b/packages/components/rollup.config.mjs
index 0a19d2196dc..1259a966fc8 100644
--- a/packages/components/rollup.config.mjs
+++ b/packages/components/rollup.config.mjs
@@ -1,3 +1,4 @@
+import { createRequire } from "node:module";
 import alias from "@rollup/plugin-alias"
 import { babel, getBabelOutputPlugin } from "@rollup/plugin-babel";
 import commonjs from "@rollup/plugin-commonjs"
@@ -9,9 +10,12 @@ import dts from "rollup-plugin-dts"
 import ignore from "rollup-plugin-ignore"
 import nodeExternals from "rollup-plugin-node-externals"
 import postcss from "rollup-plugin-postcss"
-import ttypescript from "ttypescript"
 
-const TYPES_TEMP_DIR = "dts"
+// ts-patch needs to be in CJS, but rollup uses EMS
+// https://github.com/nonara/ts-patch/issues/106
+const require = createRequire(import.meta.url);
+const tspCompiler = require("ts-patch/compiler");
+
 const OUTPUT_DIR = "dist"
 
 const getCompiledConfigByModuleType = format => ({
@@ -44,16 +48,8 @@ const getCompiledConfigByModuleType = format => ({
       extensions: [".scss", ".css"],
     }),
     typescript({
-      declaration: true,
-      declarationDir: `${OUTPUT_DIR}/${format}/${TYPES_TEMP_DIR}`,
-      exclude: [
-        "node_modules",
-        "**/*.spec.ts",
-        "**/*.spec.tsx",
-        "**/*.stories.tsx",
-      ],
-      // We use ttypescript instead of typescript to allow transformer to convert alias into actual paths/dependencies
-      typescript: ttypescript,
+      tsconfig: `./tsconfig.${format}.json`,
+      typescript: tspCompiler,
     }),
     commonjs(),
     image(),
diff --git a/packages/components/src/Table/_docs/Table.stories.tsx b/packages/components/src/Table/_docs/Table.stories.tsx
index 17046c78ee3..09b6f7c0a3a 100644
--- a/packages/components/src/Table/_docs/Table.stories.tsx
+++ b/packages/components/src/Table/_docs/Table.stories.tsx
@@ -22,7 +22,7 @@ export type TableStoryProps = {
   container?: TableContainerProps
   row?: TableRowProps
   rowCell?: TableRowCellProps
-  headerRowCell: Omit<TableHeaderRowCellProps, "labelText">
+  headerRowCell: Partial<TableHeaderRowCellProps>
   card: TableCardProps
 }
 
diff --git a/packages/components/tsconfig.cjs.json b/packages/components/tsconfig.cjs.json
new file mode 100644
index 00000000000..c64609b87fa
--- /dev/null
+++ b/packages/components/tsconfig.cjs.json
@@ -0,0 +1,6 @@
+{
+  "extends": "./tsconfig.dist.json",
+  "compilerOptions": {
+    "declarationDir": "dist/cjs/dts"
+  }
+}
diff --git a/packages/components/tsconfig.dist.json b/packages/components/tsconfig.dist.json
new file mode 100644
index 00000000000..21302f44d5f
--- /dev/null
+++ b/packages/components/tsconfig.dist.json
@@ -0,0 +1,21 @@
+{
+  "extends": "./tsconfig.json",
+  "compilerOptions": {
+    "module": "esnext",
+    "moduleResolution": "node",
+    "declaration": true,
+    // Note: To transform paths for both the output .js and .d.ts files, you need both of the below entries
+    "plugins": [
+      // Transform paths in output .js files
+      { "transform": "typescript-transform-paths" },
+      // Transform paths in output .d.ts files (Include this line if you output declarations files)
+      { "transform": "typescript-transform-paths", "afterDeclarations": true }
+    ]
+  },
+  "exclude": [
+    "node_modules",
+    "**/*.spec.ts",
+    "**/*.spec.tsx",
+    "**/*.stories.tsx"
+  ]
+}
diff --git a/packages/components/tsconfig.esm.json b/packages/components/tsconfig.esm.json
new file mode 100644
index 00000000000..63d80888df0
--- /dev/null
+++ b/packages/components/tsconfig.esm.json
@@ -0,0 +1,6 @@
+{
+  "extends": "./tsconfig.dist.json",
+  "compilerOptions": {
+    "declarationDir": "dist/esm/dts"
+  }
+}
diff --git a/packages/components/tsconfig.json b/packages/components/tsconfig.json
index 93a13d807bb..d62f5d2bbfc 100644
--- a/packages/components/tsconfig.json
+++ b/packages/components/tsconfig.json
@@ -4,20 +4,12 @@
     "baseUrl": ".",
     "module": "esnext",
     "moduleResolution": "node",
-    "declaration": true,
     "paths": {
       "~storybook/*": ["../../storybook/*"],
       "~types/*": ["./src/types/*"],
       "~utils/*": ["./src/utils/*"],
       "~components/*": ["./src/*"]
-    },
-    // Note: To transform paths for both the output .js and .d.ts files, you need both of the below entries
-    "plugins": [
-      // Transform paths in output .js files
-      { "transform": "typescript-transform-paths" },
-      // Transform paths in output .d.ts files (Include this line if you output declarations files)
-      { "transform": "typescript-transform-paths", "afterDeclarations": true }
-    ]
+    }
   },
   "files": ["types.d.ts"],
   "include": ["src/**/*"],
diff --git a/renovate.json5 b/renovate.json5
index 4562ab26653..3d57d9ee29c 100644
--- a/renovate.json5
+++ b/renovate.json5
@@ -5,7 +5,6 @@
   "ignoreDeps": [
     // We can't always stick to latest due to infra and compatibility with other plugins
     "node",
-    "typescript",
     // 0.19.x breaks the import of rollup-plugin-esbuild
     "esbuild",
     // the 8.4.19 -> 8.4.21 patch causes typescript issues
@@ -13,7 +12,7 @@
   ],
   "packageRules": [
     {
-      // Any peerDep or dep within the publishable packages triggers a 
+      // Any peerDep or dep within the publishable packages triggers a
       // patch release as a _sensible default_. Merger should use their
       // discretion to determine whether a major change is more appropriate
       "matchPaths": ["packages/**", "draft-packages/**"],
diff --git a/yarn.lock b/yarn.lock
index a4fc91fb5ba..548dac62639 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -16058,7 +16058,7 @@ resolve.exports@^2.0.0:
   resolved "https://registry.yarnpkg.com/resolve.exports/-/resolve.exports-2.0.2.tgz#f8c934b8e6a13f539e38b7098e2e36134f01e800"
   integrity sha512-X2UW6Nw3n/aMgDVy+0rSqgHlv39WZAlZrXCdnbyEiKm17DSqHX4MmQMaST3FbeWR5FTuRcUwYAziZajji0Y7mg==
 
-resolve@>=1.9.0, resolve@^1.1.7, resolve@^1.10.0, resolve@^1.14.2, resolve@^1.19.0, resolve@^1.20.0, resolve@^1.22.1, resolve@^1.22.2, resolve@^1.22.4:
+resolve@^1.1.7, resolve@^1.10.0, resolve@^1.14.2, resolve@^1.19.0, resolve@^1.20.0, resolve@^1.22.1, resolve@^1.22.2, resolve@^1.22.4:
   version "1.22.8"
   resolved "https://registry.yarnpkg.com/resolve/-/resolve-1.22.8.tgz#b6c87a9f2aa06dfab52e3d70ac8cde321fa5a48d"
   integrity sha512-oKWePCxqpd6FlLvGV1VU0x7bkPmmCNolxzjMf4NczoDnQcIWrAF+cPtZn5i6n+RfD2d9i0tzpKnG6Yk168yIyw==
@@ -17778,6 +17778,18 @@ ts-node@^10.9.1:
     v8-compile-cache-lib "^3.0.1"
     yn "3.1.1"
 
+ts-patch@^3.0.2:
+  version "3.0.2"
+  resolved "https://registry.yarnpkg.com/ts-patch/-/ts-patch-3.0.2.tgz#cbdf88e4dfb596e4dab8f2c8269361d33270a0ba"
+  integrity sha512-iTg8euqiNsNM1VDfOsVIsP0bM4kAVXU38n7TGQSkky7YQX/syh6sDPIRkvSS0HjT8ZOr0pq1h+5Le6jdB3hiJQ==
+  dependencies:
+    chalk "^4.1.2"
+    global-prefix "^3.0.0"
+    minimist "^1.2.8"
+    resolve "^1.22.2"
+    semver "^7.3.8"
+    strip-ansi "^6.0.1"
+
 tsconfig-paths@^3.14.2:
   version "3.14.2"
   resolved "https://registry.yarnpkg.com/tsconfig-paths/-/tsconfig-paths-3.14.2.tgz#6e32f1f79412decd261f92d633a9dc1cfa99f088"
@@ -17818,13 +17830,6 @@ tty-table@^4.1.5:
     wcwidth "^1.0.1"
     yargs "^17.7.1"
 
-ttypescript@^1.5.15:
-  version "1.5.15"
-  resolved "https://registry.yarnpkg.com/ttypescript/-/ttypescript-1.5.15.tgz#e45550ad69289d06d3bc3fd4a3c87e7c1ef3eba7"
-  integrity sha512-48ykDNHzFnPMnv4hYX1P8Q84TvCZyL1QlFxeuxsuZ48X2+ameBgPenvmCkHJtoOSxpoWTWi8NcgNrRnVDOmfSg==
-  dependencies:
-    resolve ">=1.9.0"
-
 turbo-darwin-64@1.10.16:
   version "1.10.16"
   resolved "https://registry.yarnpkg.com/turbo-darwin-64/-/turbo-darwin-64-1.10.16.tgz#5a8717c1372f2a75e8cfe0b4b6455119ce410b19"
@@ -17995,12 +18000,12 @@ typescript-transform-paths@^3.4.6:
   dependencies:
     minimatch "^3.0.4"
 
-typescript@5:
+typescript@5, typescript@^5.3.2:
   version "5.3.2"
   resolved "https://registry.yarnpkg.com/typescript/-/typescript-5.3.2.tgz#00d1c7c1c46928c5845c1ee8d0cc2791031d4c43"
   integrity sha512-6l+RyNy7oAHDfxC4FzSJcz9vnjTKxrLpDG5M2Vu4SHRVNg6xzqZp6LYSR9zjqQTu8DU/f5xwxUdADOkbrIX2gQ==
 
-typescript@^4.3.5, typescript@^4.9.5:
+typescript@^4.3.5:
   version "4.9.5"
   resolved "https://registry.yarnpkg.com/typescript/-/typescript-4.9.5.tgz#095979f9bcc0d09da324d58d03ce8f8374cbe65a"
   integrity sha512-1FXk9E2Hm+QzZQ7z+McJiHL4NW1F2EzMu9Nq9i3zAaGqibafqYwCVU6WyWAuyQRRzOlxou8xZSyXLEN8oKj24g==