diff --git a/packages/components/CHANGELOG.md b/packages/components/CHANGELOG.md
index eb7405e7ec9841..fe62222e11ecd7 100644
--- a/packages/components/CHANGELOG.md
+++ b/packages/components/CHANGELOG.md
@@ -11,6 +11,7 @@
 
 -   `Mobile` updated to ignore `react/exhaustive-deps` eslint rule ([#44207](https://github.com/WordPress/gutenberg/pull/44207)).
 -   `Popover`: refactor unit tests to TypeScript and modern RTL assertions ([#44373](https://github.com/WordPress/gutenberg/pull/44373)).
+-   `ResizableBox` updated to pass the `react/exhaustive-deps` eslint rule ([#44370](https://github.com/WordPress/gutenberg/pull/44370)).
 -   `Sandbox`: updated to satisfy `react/exhaustive-deps` eslint rule ([#44378](https://github.com/WordPress/gutenberg/pull/44378))
 -   `FontSizePicker`: Convert to TypeScript ([#44449](https://github.com/WordPress/gutenberg/pull/44449)).
 
@@ -37,6 +38,7 @@
 -   `UnitControl` updated to pass the `react/exhaustive-deps` eslint rule ([#44161](https://github.com/WordPress/gutenberg/pull/44161)).
 -   `Notice`: updated to satisfy `react/exhaustive-deps` eslint rule ([#44157](https://github.com/WordPress/gutenberg/pull/44157))
 
+
 ## 21.0.0 (2022-09-13)
 
 ### Deprecations
diff --git a/packages/components/src/resizable-box/resize-tooltip/utils.ts b/packages/components/src/resizable-box/resize-tooltip/utils.ts
index 54d96a1e6d1d60..7c122c2ebd85ab 100644
--- a/packages/components/src/resizable-box/resize-tooltip/utils.ts
+++ b/packages/components/src/resizable-box/resize-tooltip/utils.ts
@@ -1,7 +1,7 @@
 /**
  * WordPress dependencies
  */
-import { useEffect, useRef, useState } from '@wordpress/element';
+import { useCallback, useEffect, useRef, useState } from '@wordpress/element';
 import { useResizeObserver } from '@wordpress/compose';
 
 const noop = () => {};
@@ -84,23 +84,23 @@ export function useResizeLabel( {
 	 */
 	const moveTimeoutRef = useRef< number >();
 
-	const unsetMoveXY = () => {
-		/*
-		 * If axis is controlled, we will avoid resetting the moveX and moveY values.
-		 * This will allow for the preferred axis values to persist in the label.
-		 */
-		if ( isAxisControlled ) return;
-		setMoveX( false );
-		setMoveY( false );
-	};
+	const debounceUnsetMoveXY = useCallback( () => {
+		const unsetMoveXY = () => {
+			/*
+			 * If axis is controlled, we will avoid resetting the moveX and moveY values.
+			 * This will allow for the preferred axis values to persist in the label.
+			 */
+			if ( isAxisControlled ) return;
+			setMoveX( false );
+			setMoveY( false );
+		};
 
-	const debounceUnsetMoveXY = () => {
 		if ( moveTimeoutRef.current ) {
 			window.clearTimeout( moveTimeoutRef.current );
 		}
 
 		moveTimeoutRef.current = window.setTimeout( unsetMoveXY, fadeTimeout );
-	};
+	}, [ fadeTimeout, isAxisControlled ] );
 
 	useEffect( () => {
 		/*
@@ -143,7 +143,7 @@ export function useResizeLabel( {
 
 		onResize( { width, height } );
 		debounceUnsetMoveXY();
-	}, [ width, height ] );
+	}, [ width, height, onResize, debounceUnsetMoveXY ] );
 
 	const label = getSizeLabel( {
 		axis,