diff --git a/master_changes.md b/master_changes.md
index 47a1eae1162..b839b8c1532 100644
--- a/master_changes.md
+++ b/master_changes.md
@@ -25,6 +25,7 @@ users)
 
 ## Install
   * Fix `opam install <local_dir>` not updating and storing pinned packages' metadata [#6209 @kit-ty-kate - fix #5567]
+  * Fix `opam install --deps-only/--show-action <local_dir>` not updating (without storing) pinned packages' metadata [#6209 @kit-ty-kate - fix #5567]
 
 ## Build (package)
 
diff --git a/src/client/opamAuxCommands.ml b/src/client/opamAuxCommands.ml
index 7e0bcf27ac4..da456eb6727 100644
--- a/src/client/opamAuxCommands.ml
+++ b/src/client/opamAuxCommands.ml
@@ -404,6 +404,29 @@ let simulate_local_pinnings ?quiet ?(for_view=false) st to_pin =
            st.switch_global st.switch st.switch_config ~pinned
            ~opams:local_opams)
     );
+    reinstall = lazy (
+      let open OpamPackage.Set.Op in
+      let installed_pinned = st.pinned %% st.installed in
+      OpamPackage.Set.fold (fun pinned_pkg reinstall ->
+          match
+            OpamPackage.Set.find_opt
+              (fun pkg ->
+                 OpamPackage.Name.equal
+                   (OpamPackage.name pinned_pkg)
+                   (OpamPackage.name pkg))
+              local_packages
+          with
+          | None -> reinstall
+          | Some local_pkg ->
+            let old_opam = OpamPackage.Map.find pinned_pkg st.installed_opams in
+            let new_opam = OpamPackage.Map.find local_pkg local_opams in
+            if OpamFile.OPAM.effectively_equal old_opam new_opam then
+              reinstall
+            else
+              OpamPackage.Set.add local_pkg
+                (OpamPackage.Set.remove pinned_pkg reinstall))
+        installed_pinned (Lazy.force st.reinstall)
+    );
     pinned;
   } in
   st, local_packages
diff --git a/src/client/opamClient.ml b/src/client/opamClient.ml
index 535135fb191..b7aa57786fd 100644
--- a/src/client/opamClient.ml
+++ b/src/client/opamClient.ml
@@ -2207,9 +2207,6 @@ let install_t t ?ask ?(ignore_conflicts=false) ?(depext_only=false)
   in
   let pkg_reinstall =
     if assume_built then OpamPackage.Set.of_list pkg_skip
-    else if deps_only then OpamPackage.Set.empty
-    (* NOTE: As we only install dependency packages, there are no intersections
-       between t.reinstall and pkg_skip *)
     else Lazy.force t.reinstall %% OpamPackage.Set.of_list pkg_skip
   in
   (* Add the packages to the list of package roots and display a
diff --git a/tests/reftests/pin.test b/tests/reftests/pin.test
index 67d8453abf2..a6359b9ab7f 100644
--- a/tests/reftests/pin.test
+++ b/tests/reftests/pin.test
@@ -464,6 +464,19 @@ depends: "dependency" {= "2"}
 ### opam install --deps-only ./pin-change
 [NOTE] Ignoring uncommitted changes in ${BASEDIR}/pin-change (`--working-dir' not specified or specified with no argument).
 [pin-change.dev] synchronised (no changes)
+The following actions will be performed:
+=== recompile 1 package
+  - recompile pin-change dev (pinned) [uses dependency]
+=== upgrade 1 package
+  - upgrade   dependency 1 to 2       [required by pin-change]
+
+<><> Processing actions <><><><><><><><><><><><><><><><><><><><><><><><><><><><>
+-> removed   dependency.1
+-> installed dependency.2
+-> retrieved pin-change.dev  (no changes)
+-> removed   pin-change.dev
+-> installed pin-change.dev
+Done.
 ### opam remove pin-change
 The following actions will be performed:
 === remove 1 package
@@ -480,10 +493,10 @@ depends: "dependency" {= "3"}
 [pin-change.dev] synchronised (no changes)
 The following actions will be performed:
 === upgrade 1 package
-  - upgrade dependency 1 to 3 [required by pin-change]
+  - upgrade dependency 2 to 3 [required by pin-change]
 
 <><> Processing actions <><><><><><><><><><><><><><><><><><><><><><><><><><><><>
--> removed   dependency.1
+-> removed   dependency.2
 -> installed dependency.3
 Done.
 ### opam pin
diff --git a/tests/reftests/working-dir.test b/tests/reftests/working-dir.test
index f432c25193f..5a311f80106 100644
--- a/tests/reftests/working-dir.test
+++ b/tests/reftests/working-dir.test
@@ -256,7 +256,11 @@ Done.
 opam-version: "2.0"
 depends: ["qux" {= "1"}]
 ### opam install ./ongoing --working-dir --show-action
-[NOTE] Package ongoing is already installed (current version is dev).
+The following actions would be performed:
+=== downgrade 1 package
+  - downgrade qux     4 to 1       [required by ongoing]
+=== recompile 1 package
+  - recompile ongoing dev (pinned)
 ### opam reinstall ./ongoing --working-dir --show-action
 
 <><> Synchronising pinned packages ><><><><><><><><><><><><><><><><><><><><><><>