diff --git a/.flowconfig b/.flowconfig
index 1c776c8065b..e991466446c 100644
--- a/.flowconfig
+++ b/.flowconfig
@@ -85,4 +85,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.122.0
+^0.123.0
diff --git a/.flowconfig.android b/.flowconfig.android
index cb37da28876..fb3eff11965 100644
--- a/.flowconfig.android
+++ b/.flowconfig.android
@@ -85,4 +85,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.122.0
+^0.123.0
diff --git a/Libraries/ReactNative/PaperUIManager.js b/Libraries/ReactNative/PaperUIManager.js
index 146af3d2028..776fa431e82 100644
--- a/Libraries/ReactNative/PaperUIManager.js
+++ b/Libraries/ReactNative/PaperUIManager.js
@@ -32,10 +32,10 @@ function getConstants(): Object {
   return NativeUIManagerConstants;
 }
 
+/* $FlowFixMe(>=0.123.0 site=react_native_fb) This comment suppresses an error
+ * found when Flow v0.123.0 was deployed. To see the error, delete this comment
+ * and run Flow. */
 const UIManagerJS = {
-  /* $FlowFixMe(>=0.111.0 site=react_native_fb) This comment suppresses an
-   * error found when Flow v0.111 was deployed. To see the error, delete this
-   * comment and run Flow. */
   ...NativeUIManager,
   getConstants(): Object {
     return getConstants();
diff --git a/ReactCommon/hermes/inspector/tools/msggen/src/index.js b/ReactCommon/hermes/inspector/tools/msggen/src/index.js
index 973e5c89483..adcbdea071e 100644
--- a/ReactCommon/hermes/inspector/tools/msggen/src/index.js
+++ b/ReactCommon/hermes/inspector/tools/msggen/src/index.js
@@ -26,7 +26,6 @@ import {ImplementationWriter} from './ImplementationWriter';
 // $FlowFixMe: this isn't a module, just a JSON file.
 const standard = require('devtools-protocol/json/js_protocol.json');
 
-// $FlowFixMe: this isn't a module, also just a JSON file.
 const custom = require('../src/custom.json');
 
 type Descriptor = {|
diff --git a/package.json b/package.json
index b1aa8943cec..786395213ae 100644
--- a/package.json
+++ b/package.json
@@ -138,7 +138,7 @@
     "eslint-plugin-react-hooks": "^3.0.0",
     "eslint-plugin-react-native": "3.8.1",
     "eslint-plugin-relay": "1.7.0",
-    "flow-bin": "^0.122.0",
+    "flow-bin": "^0.123.0",
     "flow-remove-types": "1.2.3",
     "jest": "^25.4.0",
     "jest-junit": "^10.0.0",
diff --git a/template/_flowconfig b/template/_flowconfig
index b274ad1d676..68af1e70c5f 100644
--- a/template/_flowconfig
+++ b/template/_flowconfig
@@ -70,4 +70,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.122.0
+^0.123.0
diff --git a/yarn.lock b/yarn.lock
index c68cb87554a..f2efeddb181 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -3544,10 +3544,10 @@ flat-cache@^1.2.1:
     rimraf "~2.6.2"
     write "^0.2.1"
 
-flow-bin@^0.122.0:
-  version "0.122.0"
-  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.122.0.tgz#c723a2b33b1a70bd10204704ae1dc776d5d89d79"
-  integrity sha512-my8N5jgl/A+UVby9E7NDppHdhLgRbWgKbmFZSx2MSYMRh3d9YGnM2MM+wexpUpl0ftY1IM6ZcUwaAhrypLyvlA==
+flow-bin@^0.123.0:
+  version "0.123.0"
+  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.123.0.tgz#7ba61a0b8775928cf4943ccf78eed2b1b05f7b3a"
+  integrity sha512-Ylcf8YDIM/KrqtxkPuq+f8O+6sdYA2Nuz5f+sWHlp539DatZz3YMcsO1EiXaf1C11HJgpT/3YGYe7xZ9/UZmvQ==
 
 flow-parser@0.*:
   version "0.89.0"