diff --git a/ocaml/boot/ocamlc b/ocaml/boot/ocamlc
index 8635bc10ac1..6620116ad3a 100755
Binary files a/ocaml/boot/ocamlc and b/ocaml/boot/ocamlc differ
diff --git a/ocaml/boot/ocamllex b/ocaml/boot/ocamllex
index dd4ef8c3c13..0fe92796177 100755
Binary files a/ocaml/boot/ocamllex and b/ocaml/boot/ocamllex differ
diff --git a/ocaml/testsuite/tests/typing-missing-cmi/test.compilers.reference b/ocaml/testsuite/tests/typing-missing-cmi/test.compilers.reference
index f0dd8a7efd1..b75953604d6 100644
--- a/ocaml/testsuite/tests/typing-missing-cmi/test.compilers.reference
+++ b/ocaml/testsuite/tests/typing-missing-cmi/test.compilers.reference
@@ -3,6 +3,6 @@ File "main.ml", line 1, characters 8-11:
             ^^^
 Error: This expression has type M.a but an expression was expected of type
          ('a : value)
-       M.a has an unknown layout, which might not be representable.         
+       M.a has an unknown layout, which might not be a sublayout of value.
        No .cmi file found containing M.a.
        Hint: Adding "m" to your dependencies might help.
diff --git a/ocaml/typing/ctype.ml b/ocaml/typing/ctype.ml
index 7fd0744b331..87459be012b 100644
--- a/ocaml/typing/ctype.ml
+++ b/ocaml/typing/ctype.ml
@@ -3767,7 +3767,8 @@ let filter_arrow env t l ~force_tpoly =
             newty2 ~level
               (* CR layouts v5: Change the Layout.value when option can
                  hold non-values. *)
-              (Tconstr(Predef.path_option,[newvar2 level Layout.value],
+              (Tconstr(Predef.path_option,
+                       [newvar2 level (Layout.value ~why:Type_argument)],
                        ref Mnil))
           else
             newvar2 level l1