diff --git a/redis/asyncio/connection.py b/redis/asyncio/connection.py
index 057067a83e..58dcd66efb 100644
--- a/redis/asyncio/connection.py
+++ b/redis/asyncio/connection.py
@@ -25,7 +25,9 @@
 )
 from urllib.parse import ParseResult, parse_qs, unquote, urlparse
 
-if sys.version_info.major >= 3 and sys.version_info.minor >= 11:
+# the functionality is available in 3.11.x but has a major issue before
+# 3.11.3. See https://github.com/redis/redis-py/issues/2633
+if sys.version_info >= (3, 11, 3):
     from asyncio import timeout as async_timeout
 else:
     from async_timeout import timeout as async_timeout
diff --git a/setup.py b/setup.py
index 3003c59420..3b7347da03 100644
--- a/setup.py
+++ b/setup.py
@@ -34,7 +34,7 @@
     install_requires=[
         'importlib-metadata >= 1.0; python_version < "3.8"',
         'typing-extensions; python_version<"3.8"',
-        'async-timeout>=4.0.2; python_version<"3.11"',
+        'async-timeout>=4.0.2; python_version<="3.11.2"',
     ],
     classifiers=[
         "Development Status :: 5 - Production/Stable",
diff --git a/tests/test_asyncio/test_pubsub.py b/tests/test_asyncio/test_pubsub.py
index 0df7847e66..8f3817a569 100644
--- a/tests/test_asyncio/test_pubsub.py
+++ b/tests/test_asyncio/test_pubsub.py
@@ -5,7 +5,9 @@
 from typing import Optional
 from unittest.mock import patch
 
-if sys.version_info.major >= 3 and sys.version_info.minor >= 11:
+# the functionality is available in 3.11.x but has a major issue before
+# 3.11.3. See https://github.com/redis/redis-py/issues/2633
+if sys.version_info >= (3, 11, 3):
     from asyncio import timeout as async_timeout
 else:
     from async_timeout import timeout as async_timeout