diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9b23a64ac5..37476ad47f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -36,6 +36,9 @@
 - Bump solution-operator-lib Go version to 1.24
   (PR[#4817](https://github.com/scality/metalk8s/pull/4817))
 
+- Bump prometheus-adapter chart version to [5.3.0](https://github.com/prometheus-community/helm-charts/releases/tag/prometheus-adapter-5.3.0)
+  (PR[#4825](https://github.com/scality/metalk8s/pull/4825))
+
 - Bump ingress-nginx chart version to [4.15.0](https://github.com/kubernetes/ingress-nginx/releases/tag/helm-chart-4.15.0)
   and ingress-nginx controller to [v1.15.0](https://github.com/kubernetes/ingress-nginx/releases/tag/controller-v1.15.0)
   (PR[#4824](https://github.com/scality/metalk8s/pull/4824))
diff --git a/charts/prometheus-adapter/Chart.yaml b/charts/prometheus-adapter/Chart.yaml
index d5bd6a6f51..d26eacc7bb 100644
--- a/charts/prometheus-adapter/Chart.yaml
+++ b/charts/prometheus-adapter/Chart.yaml
@@ -2,6 +2,7 @@ apiVersion: v1
 appVersion: v0.12.0
 description: A Helm chart for k8s prometheus adapter
 home: https://github.com/kubernetes-sigs/prometheus-adapter
+icon: https://raw.githubusercontent.com/cncf/artwork/master/prometheus/icon/color/prometheus-icon-color.svg
 keywords:
 - hpa
 - metrics
@@ -20,4 +21,4 @@ name: prometheus-adapter
 sources:
 - https://github.com/kubernetes/charts
 - https://github.com/kubernetes-sigs/prometheus-adapter
-version: 4.14.1
+version: 5.3.0
diff --git a/charts/prometheus-adapter/README.md b/charts/prometheus-adapter/README.md
index 368b4b3669..8da31a7f64 100644
--- a/charts/prometheus-adapter/README.md
+++ b/charts/prometheus-adapter/README.md
@@ -4,28 +4,28 @@ Installs the [Prometheus Adapter](https://github.com/kubernetes-sigs/prometheus-
 
 ## Prerequisites
 
-Kubernetes 1.14+
+Kubernetes 1.21+
 
-## Get Helm Repositories Info
+## Usage
 
-```console
-helm repo add prometheus-community https://prometheus-community.github.io/helm-charts
-helm repo update
-```
+The chart is distributed as an [OCI Artifact](https://helm.sh/docs/topics/registries/) as well as via a traditional [Helm Repository](https://helm.sh/docs/topics/chart_repository/).
+
+- OCI Artifact: `oci://ghcr.io/prometheus-community/charts/prometheus-adapter`
+- Helm Repository: `https://prometheus-community.github.io/helm-charts` with chart `prometheus-adapter`
 
-_See [`helm repo`](https://helm.sh/docs/helm/helm_repo/) for command documentation._
+The installation instructions use the OCI registry. Refer to the [`helm repo`]([`helm repo`](https://helm.sh/docs/helm/helm_repo/)) command documentation for information on installing charts via the traditional repository.
 
-## Install Helm Chart
+### Install Helm Chart
 
 ```console
-helm install [RELEASE_NAME] prometheus-community/prometheus-adapter
+helm install [RELEASE_NAME] oci://ghcr.io/prometheus-community/charts/prometheus-adapter
 ```
 
 _See [configuration](#configuration) below._
 
 _See [helm install](https://helm.sh/docs/helm/helm_install/) for command documentation._
 
-## Uninstall Helm Chart
+### Uninstall Helm Chart
 
 ```console
 helm uninstall [RELEASE_NAME]
@@ -35,7 +35,7 @@ This removes all the Kubernetes components associated with the chart and deletes
 
 _See [helm uninstall](https://helm.sh/docs/helm/helm_uninstall/) for command documentation._
 
-## Upgrading Helm Chart
+### Upgrading Helm Chart
 
 ```console
 helm upgrade [RELEASE_NAME] [CHART] --install
@@ -43,15 +43,19 @@ helm upgrade [RELEASE_NAME] [CHART] --install
 
 _See [helm upgrade](https://helm.sh/docs/helm/helm_upgrade/) for command documentation._
 
-### To 4.2.0
+### To 5.0.0
+
+This version removes support for the deprecated Kubernetes API `policy/v1beta1` for PodDisruptionBudgets. It also removes the deprecated `PodSecurityPolicy` resource. Minimum Kubernetes version >= 1.21 is now required.
+
+#### To 4.2.0
 
 Readiness and liveness probes are now fully configurable through values `readinessProbe` and `livenessProbe`. The previous values have been kept as defaults.
 
-### To 4.0.0
+#### To 4.0.0
 
 Previously, security context of the container was set directly in the deployment template. This release makes it configurable through the new configuration variable `securityContext` whilst keeping the previously set values as defaults. Furthermore, previous variable `runAsUser` is now set in `securityContext` and is not used any longer. Please, use `securityContext.runAsUser` instead. In the same security context, `seccompProfile` has been enabled and set to type `RuntimeDefault`.
 
-### To 3.0.0
+#### To 3.0.0
 
 Due to a change in deployment labels, the upgrade requires `helm upgrade --force` in order to re-create the deployment.
 
@@ -60,7 +64,7 @@ Due to a change in deployment labels, the upgrade requires `helm upgrade --force
 See [Customizing the Chart Before Installing](https://helm.sh/docs/intro/using_helm/#customizing-the-chart-before-installing). To see all configurable options with detailed comments, visit the chart's [values.yaml](./values.yaml), or run these configuration commands:
 
 ```console
-helm show values prometheus-community/prometheus-adapter
+helm show values oci://ghcr.io/prometheus-community/charts/prometheus-adapter
 ```
 
 ### Prometheus Service Endpoint
diff --git a/charts/prometheus-adapter/templates/_helpers.tpl b/charts/prometheus-adapter/templates/_helpers.tpl
index 178c00b674..4b52f7b802 100644
--- a/charts/prometheus-adapter/templates/_helpers.tpl
+++ b/charts/prometheus-adapter/templates/_helpers.tpl
@@ -73,12 +73,3 @@ Create the name of the service account to use
     {{ default "default" .Values.serviceAccount.name }}
 {{- end -}}
 {{- end -}}
-
-{{/* Get Policy API Version */}}
-{{- define "k8s-prometheus-adapter.pdb.apiVersion" -}}
-{{- if and (.Capabilities.APIVersions.Has "policy/v1") (semverCompare ">= 1.21-0" .Capabilities.KubeVersion.Version) -}}
-    {{- print "policy/v1" -}}
-{{- else -}}
-    {{- print "policy/v1beta1" -}}
-{{- end -}}
-{{- end -}}
diff --git a/charts/prometheus-adapter/templates/deployment.yaml b/charts/prometheus-adapter/templates/deployment.yaml
index 4036411818..b26256fbe6 100644
--- a/charts/prometheus-adapter/templates/deployment.yaml
+++ b/charts/prometheus-adapter/templates/deployment.yaml
@@ -16,6 +16,7 @@ metadata:
   namespace: {{ include "k8s-prometheus-adapter.namespace" . }}
 spec:
   replicas: {{ .Values.replicas }}
+  revisionHistoryLimit: {{ .Values.revisionHistoryLimit }}
   strategy: {{ toYaml .Values.strategy | nindent 4 }}
   selector:
     matchLabels:
diff --git a/charts/prometheus-adapter/templates/pdb.yaml b/charts/prometheus-adapter/templates/pdb.yaml
index 205761a9f1..68a6a13af9 100644
--- a/charts/prometheus-adapter/templates/pdb.yaml
+++ b/charts/prometheus-adapter/templates/pdb.yaml
@@ -1,5 +1,5 @@
 {{- if .Values.podDisruptionBudget.enabled }}
-apiVersion: {{ include "k8s-prometheus-adapter.pdb.apiVersion" . }}
+apiVersion: policy/v1
 kind: PodDisruptionBudget
 metadata:
   name: {{ template "k8s-prometheus-adapter.fullname" . }}
@@ -11,12 +11,17 @@ metadata:
   labels:
     {{- include "k8s-prometheus-adapter.labels" . | indent 4 }}
 spec:
-  {{- if .Values.podDisruptionBudget.minAvailable }}
-  minAvailable: {{ .Values.podDisruptionBudget.minAvailable }}
-  {{- end  }}
-  {{- if .Values.podDisruptionBudget.maxUnavailable }}
-  maxUnavailable: {{ .Values.podDisruptionBudget.maxUnavailable }}
-  {{- end  }}
+  {{- with .Values.podDisruptionBudget }}
+  {{- if .minAvailable }}
+  minAvailable: {{ .minAvailable }}
+  {{- end }}
+  {{- if .maxUnavailable }}
+  maxUnavailable: {{ .maxUnavailable }}
+  {{- end }}
+  {{- if .unhealthyPodEvictionPolicy }}
+  unhealthyPodEvictionPolicy: {{ .unhealthyPodEvictionPolicy }}
+  {{- end }}
+  {{- end }}
   selector:
     matchLabels:
       {{- include "k8s-prometheus-adapter.selectorLabels" . | indent 6 }}
diff --git a/charts/prometheus-adapter/templates/psp.yaml b/charts/prometheus-adapter/templates/psp.yaml
deleted file mode 100644
index ec26af502c..0000000000
--- a/charts/prometheus-adapter/templates/psp.yaml
+++ /dev/null
@@ -1,66 +0,0 @@
-{{- if and .Values.psp.create (.Capabilities.APIVersions.Has "policy/v1beta1/PodSecurityPolicy") }}
----
-apiVersion: policy/v1beta1
-kind: PodSecurityPolicy
-metadata:
-  name: {{ template "k8s-prometheus-adapter.fullname" . }}
-  {{- with (merge .Values.customAnnotations .Values.psp.annotations) }}
-  annotations:
-    {{- toYaml . | nindent 4 }}
-  {{- end }}
-  labels:
-    {{- include "k8s-prometheus-adapter.labels" . | indent 4 }}
-spec:
-  {{- if .Values.hostNetwork.enabled }}
-  hostNetwork: true
-  hostPorts:
-    - min: {{ .Values.listenPort }}
-      max: {{ .Values.listenPort }}
-  {{- end }}
-  fsGroup:
-    rule: RunAsAny
-  runAsGroup:
-    rule: RunAsAny
-  runAsUser:
-    rule: MustRunAs
-    ranges:
-    - min: 1024
-      max: 65535
-  seLinux:
-    rule: RunAsAny
-  supplementalGroups:
-    rule: RunAsAny
-  volumes:
-  - secret
-  - emptyDir
-  - configMap
----
-apiVersion: rbac.authorization.k8s.io/v1
-kind: ClusterRole
-metadata:
-  labels:
-    {{- include "k8s-prometheus-adapter.labels" . | indent 4 }}
-  name: {{ template "k8s-prometheus-adapter.name" . }}-psp
-rules:
-- apiGroups: 
-  - 'policy'
-  resources: ['podsecuritypolicies']
-  verbs:     ['use']
-  resourceNames:
-  - {{ template "k8s-prometheus-adapter.fullname" . }}
----
-apiVersion: rbac.authorization.k8s.io/v1
-kind: ClusterRoleBinding
-metadata:
-  labels:
-    {{- include "k8s-prometheus-adapter.labels" . | indent 4 }}
-  name: {{ template "k8s-prometheus-adapter.name" . }}-psp
-roleRef:
-  apiGroup: rbac.authorization.k8s.io
-  kind: ClusterRole
-  name: {{ template "k8s-prometheus-adapter.name" . }}-psp
-subjects:
-- kind: ServiceAccount
-  name: {{ template "k8s-prometheus-adapter.serviceAccountName" . }}
-  namespace: {{ include "k8s-prometheus-adapter.namespace" . | quote }}
-{{- end -}}
diff --git a/charts/prometheus-adapter/values.yaml b/charts/prometheus-adapter/values.yaml
index 710b365d3f..c5c9c4590b 100644
--- a/charts/prometheus-adapter/values.yaml
+++ b/charts/prometheus-adapter/values.yaml
@@ -2,6 +2,12 @@ affinity: {}
 
 topologySpreadConstraints: []
 
+# Override the name of the chart
+nameOverride: ""
+
+# Override the full name of the release
+fullnameOverride: ""
+
 image:
   repository: registry.k8s.io/prometheus-adapter/prometheus-adapter
   # if not set appVersion field from Chart.yaml is used
@@ -67,15 +73,6 @@ rbac:
   customMetrics:
     resources: ["*"]
 
-psp:
-  # Specifies whether PSP resources should be created
-  create: false
-  # Annotations added to the pod security policy
-  annotations: {}
-  ## Ref: https://kubernetes.io/docs/concepts/policy/pod-security-policy/#apparmor
-  ## Ref: https://kubernetes.io/docs/concepts/policy/pod-security-policy/#seccomp
-  ## Ref: https://kubernetes.io/docs/concepts/policy/pod-security-policy/#sysctl
-
 # If false then the user will opt out of automounting API credentials.
 automountServiceAccountToken: true
 
@@ -292,6 +289,8 @@ podDisruptionBudget:
   enabled: false
   minAvailable:
   maxUnavailable: 1
+  # See https://kubernetes.io/docs/tasks/run-application/configure-pdb/#unhealthy-pod-eviction-policy for possible values
+  unhealthyPodEvictionPolicy:
 
 certManager:
   enabled: false
@@ -312,3 +311,6 @@ extraManifests: []
   #     name: prometheus-extra
   #   data:
   #     extra-data: "value"
+
+# Optional: set revisionHistoryLimit for the Deployment
+revisionHistoryLimit: 10
diff --git a/salt/metalk8s/addons/prometheus-adapter/deployed/chart.sls b/salt/metalk8s/addons/prometheus-adapter/deployed/chart.sls
index 3432c6aede..8e8fd7e26a 100644
--- a/salt/metalk8s/addons/prometheus-adapter/deployed/chart.sls
+++ b/salt/metalk8s/addons/prometheus-adapter/deployed/chart.sls
@@ -18,7 +18,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter
   namespace: metalk8s-monitoring
@@ -131,7 +131,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter
   namespace: metalk8s-monitoring
@@ -146,7 +146,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter-resource-reader
   namespace: metalk8s-monitoring
@@ -173,7 +173,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter-server-resources
   namespace: metalk8s-monitoring
@@ -195,7 +195,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter-metrics
   namespace: metalk8s-monitoring
@@ -221,7 +221,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter-system-auth-delegator
   namespace: metalk8s-monitoring
@@ -244,7 +244,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter-resource-reader
   namespace: metalk8s-monitoring
@@ -267,7 +267,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter-hpa-controller
   namespace: metalk8s-monitoring
@@ -290,7 +290,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter-hpa-controller-metrics
   namespace: metalk8s-monitoring
@@ -313,7 +313,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter-auth-reader
   namespace: kube-system
@@ -336,7 +336,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter
   namespace: metalk8s-monitoring
@@ -361,12 +361,13 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: prometheus-adapter
   namespace: metalk8s-monitoring
 spec:
   replicas: 1
+  revisionHistoryLimit: 10
   selector:
     matchLabels:
       app.kubernetes.io/instance: prometheus-adapter
@@ -379,7 +380,7 @@ spec:
   template:
     metadata:
       annotations:
-        checksum/config: 279409461d8d7b609f44dee4111e1092b02935387fb219080b82b867c3d66113
+        checksum/config: d166939f8f79db05bd0882127b339e0ebc5f63ac908617329717fd55021500d0
       labels:
         app.kubernetes.io/component: metrics
         app.kubernetes.io/instance: prometheus-adapter
@@ -387,7 +388,7 @@ spec:
         app.kubernetes.io/name: prometheus-adapter
         app.kubernetes.io/part-of: metalk8s
         app.kubernetes.io/version: v0.12.0
-        helm.sh/chart: prometheus-adapter-4.14.1
+        helm.sh/chart: prometheus-adapter-5.3.0
         heritage: metalk8s
       name: prometheus-adapter
     spec:
@@ -469,7 +470,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: v1beta1.custom.metrics.k8s.io
   namespace: metalk8s-monitoring
@@ -493,7 +494,7 @@ metadata:
     app.kubernetes.io/name: prometheus-adapter
     app.kubernetes.io/part-of: metalk8s
     app.kubernetes.io/version: v0.12.0
-    helm.sh/chart: prometheus-adapter-4.14.1
+    helm.sh/chart: prometheus-adapter-5.3.0
     heritage: metalk8s
   name: v1beta1.metrics.k8s.io
   namespace: metalk8s-monitoring