diff --git a/.node-version b/.node-version
index 285152276014..f46d5e394243 100644
--- a/.node-version
+++ b/.node-version
@@ -1 +1 @@
-14.20.1
+14.21.3
diff --git a/.nvmrc b/.nvmrc
index 285152276014..f46d5e394243 100644
--- a/.nvmrc
+++ b/.nvmrc
@@ -1 +1 @@
-14.20.1
+14.21.3
diff --git a/CHANGELOG.md b/CHANGELOG.md
index fa50fdd53d18..274f5ec6fe02 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -134,6 +134,8 @@ Inspired from [Keep a Changelog](https://keepachangelog.com/en/1.0.0/)
 - Bumps `re2` and `supertest` ([3018](https://github.com/opensearch-project/OpenSearch-Dashboards/pull/3018))
 - Bump `vega-tooltip` version from ^0.24.2 to ^0.30.0 ([#3358](https://github.com/opensearch-project/OpenSearch-Dashboards/issues/3358))
 - Allow relaxing the Node.js runtime version requirement ([3402](https://github.com/opensearch-project/OpenSearch-Dashboards/pull/3402))
+- Relax the Node.js requirement to `^14.20.1` ([3463](https://github.com/opensearch-project/OpenSearch-Dashboards/pull/3463))
+- Bump the version of Node.js installed by `nvm` to `14.21.3` ([3463](https://github.com/opensearch-project/OpenSearch-Dashboards/pull/3463))
 
 ### 🪛 Refactoring
 
diff --git a/package.json b/package.json
index f7f6979371b7..3c09f3d392ca 100644
--- a/package.json
+++ b/package.json
@@ -466,7 +466,7 @@
     "zlib": "^1.0.5"
   },
   "engines": {
-    "node": "14.20.1",
+    "node": "^14.20.1",
     "yarn": "^1.22.10"
   }
 }
diff --git a/src/dev/node_versions_must_match.test.ts b/src/dev/node_versions_must_match.test.ts
index 7ddaa54b121c..c97557072078 100644
--- a/src/dev/node_versions_must_match.test.ts
+++ b/src/dev/node_versions_must_match.test.ts
@@ -29,11 +29,13 @@
  */
 
 import fs from 'fs';
+import semver from 'semver';
 import { engines } from '../../package.json';
 import { promisify } from 'util';
 const readFile = promisify(fs.readFile);
 import expect from '@osd/expect';
 
+// ToDo: `.node-version` seems to exist for no good reason; find out if we can get rid of it and this test.
 describe('All configs should use a single version of Node', () => {
   it('should compare .node-version and .nvmrc', async () => {
     const [nodeVersion, nvmrc] = await Promise.all([
@@ -48,6 +50,6 @@ describe('All configs should use a single version of Node', () => {
     const nodeVersion = await readFile('./.node-version', {
       encoding: 'utf-8',
     });
-    expect(nodeVersion.trim()).to.be(engines.node);
+    expect(semver.satisfies(nodeVersion.trim(), engines.node)).to.be(true);
   });
 });