diff --git a/Lib/ensurepip/__init__.py b/Lib/ensurepip/__init__.py
index 3fbe8b2a5b1..1a2f57c07ba 100644
--- a/Lib/ensurepip/__init__.py
+++ b/Lib/ensurepip/__init__.py
@@ -8,11 +8,10 @@
 from importlib import resources
 
 
-
 __all__ = ["version", "bootstrap"]
 _PACKAGE_NAMES = ('setuptools', 'pip')
-_SETUPTOOLS_VERSION = "58.1.0"
-_PIP_VERSION = "22.0.4"
+_SETUPTOOLS_VERSION = "65.5.0"
+_PIP_VERSION = "22.3.1"
 _PROJECTS = [
     ("setuptools", _SETUPTOOLS_VERSION, "py3"),
     ("pip", _PIP_VERSION, "py3"),
@@ -79,8 +78,8 @@ def _get_packages():
 
 
 def _run_pip(args, additional_paths=None):
-    # Run the bootstraping in a subprocess to avoid leaking any state that happens
-    # after pip has executed. Particulary, this avoids the case when pip holds onto
+    # Run the bootstrapping in a subprocess to avoid leaking any state that happens
+    # after pip has executed. Particularly, this avoids the case when pip holds onto
     # the files in *additional_paths*, preventing us to remove them at the end of the
     # invocation.
     code = f"""
@@ -90,8 +89,18 @@ def _run_pip(args, additional_paths=None):
 sys.argv[1:] = {args}
 runpy.run_module("pip", run_name="__main__", alter_sys=True)
 """
-    return subprocess.run([sys.executable, '-W', 'ignore::DeprecationWarning',
-                           "-c", code], check=True).returncode
+
+    cmd = [
+        sys.executable,
+        '-W',
+        'ignore::DeprecationWarning',
+        '-c',
+        code,
+    ]
+    if sys.flags.isolated:
+        # run code in isolated mode if currently running isolated
+        cmd.insert(1, '-I')
+    return subprocess.run(cmd, check=True).returncode
 
 
 def version():
@@ -164,9 +173,9 @@ def _bootstrap(*, root=None, upgrade=False, user=False,
         for name, package in _get_packages().items():
             if package.wheel_name:
                 # Use bundled wheel package
-                from ensurepip import _bundled
                 wheel_name = package.wheel_name
-                whl = resources.read_binary(_bundled, wheel_name)
+                wheel_path = resources.files("ensurepip") / "_bundled" / wheel_name
+                whl = wheel_path.read_bytes()
             else:
                 # Use the wheel package directory
                 with open(package.wheel_path, "rb") as fp:
diff --git a/Lib/ensurepip/_bundled/__init__.py b/Lib/ensurepip/_bundled/__init__.py
deleted file mode 100644
index e69de29bb2d..00000000000
diff --git a/Lib/ensurepip/_bundled/pip-22.0.4-py3-none-any.whl b/Lib/ensurepip/_bundled/pip-22.0.4-py3-none-any.whl
deleted file mode 100644
index 7ba048e2452..00000000000
Binary files a/Lib/ensurepip/_bundled/pip-22.0.4-py3-none-any.whl and /dev/null differ
diff --git a/Lib/ensurepip/_bundled/pip-22.3.1-py3-none-any.whl b/Lib/ensurepip/_bundled/pip-22.3.1-py3-none-any.whl
new file mode 100644
index 00000000000..c5b7753e757
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diff --git a/Lib/ensurepip/_bundled/setuptools-58.1.0-py3-none-any.whl b/Lib/ensurepip/_bundled/setuptools-58.1.0-py3-none-any.whl
deleted file mode 100644
index 18c8c22958f..00000000000
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diff --git a/Lib/ensurepip/_bundled/setuptools-65.5.0-py3-none-any.whl b/Lib/ensurepip/_bundled/setuptools-65.5.0-py3-none-any.whl
new file mode 100644
index 00000000000..123a13e2c6b
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