diff --git a/third_party/istio-latest/net-istio.yaml b/third_party/istio-latest/net-istio.yaml
index e124d0cd1a2c..7cb302f4e6ac 100644
--- a/third_party/istio-latest/net-istio.yaml
+++ b/third_party/istio-latest/net-istio.yaml
@@ -1,4 +1,4 @@
-# Generated when HEAD was 04e673a6326495d09f2bd0116d1aa39f1e74db7f
+# Generated when HEAD was 4dff29ead7356d3cf15a30eb52a0f4ebc613f9ce
 #
 # Copyright 2019 The Knative Authors
 #
@@ -22,7 +22,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     serving.knative.dev/controller: "true"
     networking.knative.dev/ingress-provider: istio
 rules:
@@ -54,7 +54,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 spec:
   selector:
@@ -93,7 +93,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 spec:
   selector:
@@ -114,7 +114,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
     experimental.istio.io/disable-gateway-port-translation: "true"
 spec:
@@ -152,7 +152,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 data:
   # TODO(nghia): Extract the .svc.cluster.local suffix into its own config.
@@ -262,7 +262,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 spec:
   selector:
@@ -280,7 +280,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 spec:
   selector:
@@ -313,7 +313,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 spec:
   selector:
@@ -329,14 +329,14 @@ spec:
         app: net-istio-controller
         app.kubernetes.io/component: net-istio
         app.kubernetes.io/name: knative-serving
-        app.kubernetes.io/version: "20250120-04e673a6"
+        app.kubernetes.io/version: "20250121-4dff29ea"
     spec:
       serviceAccountName: controller
       containers:
         - name: controller
           # This is the Go import path for the binary that is containerized
           # and substituted here.
-          image: gcr.io/knative-nightly/knative.dev/net-istio/cmd/controller@sha256:d22ed32648ba21577930d601cd31dd64cf5c5fff04ab9e1f5285b2763e63a8aa
+          image: gcr.io/knative-nightly/knative.dev/net-istio/cmd/controller@sha256:781a242ee3f5fcf79264b98c65aff8185427404c51ab8ff723e2ebfaf085c593
           resources:
             requests:
               cpu: 30m
@@ -415,7 +415,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 spec:
   selector:
@@ -429,14 +429,14 @@ spec:
         role: net-istio-webhook
         app.kubernetes.io/component: net-istio
         app.kubernetes.io/name: knative-serving
-        app.kubernetes.io/version: "20250120-04e673a6"
+        app.kubernetes.io/version: "20250121-4dff29ea"
     spec:
       serviceAccountName: controller
       containers:
         - name: webhook
           # This is the Go import path for the binary that is containerized
           # and substituted here.
-          image: gcr.io/knative-nightly/knative.dev/net-istio/cmd/webhook@sha256:5d3100f45b83bc6c099d9556044b18f109fdc13f4d06418719f5a3026002b23a
+          image: gcr.io/knative-nightly/knative.dev/net-istio/cmd/webhook@sha256:846e3e40ac21966cbaa4e2aeaa856f0faa8fb26cfaf8e23baada1bad4087be8e
           resources:
             requests:
               cpu: 20m
@@ -514,7 +514,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 
 ---
@@ -541,7 +541,7 @@ metadata:
     role: net-istio-webhook
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 spec:
   ports:
@@ -580,7 +580,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 webhooks:
   - admissionReviewVersions:
@@ -619,7 +619,7 @@ metadata:
   labels:
     app.kubernetes.io/component: net-istio
     app.kubernetes.io/name: knative-serving
-    app.kubernetes.io/version: "20250120-04e673a6"
+    app.kubernetes.io/version: "20250121-4dff29ea"
     networking.knative.dev/ingress-provider: istio
 webhooks:
   - admissionReviewVersions: