diff --git a/change/react-native-windows-3f992801-4f60-495b-a7e5-9af34020b8f0.json b/change/react-native-windows-3f992801-4f60-495b-a7e5-9af34020b8f0.json
deleted file mode 100644
index 2640180060b..00000000000
--- a/change/react-native-windows-3f992801-4f60-495b-a7e5-9af34020b8f0.json
+++ /dev/null
@@ -1,7 +0,0 @@
-{
-  "type": "patch",
-  "comment": "Change Hermes package version to 0.1.21",
-  "packageName": "react-native-windows",
-  "email": "vmorozov@microsoft.com",
-  "dependentChangeType": "patch"
-}
diff --git a/packages/@react-native-windows/automation-channel/package.json b/packages/@react-native-windows/automation-channel/package.json
index b179787bda1..2ba5280ec4c 100644
--- a/packages/@react-native-windows/automation-channel/package.json
+++ b/packages/@react-native-windows/automation-channel/package.json
@@ -32,7 +32,7 @@
     "prettier": "^2.4.1",
     "react": "18.2.0",
     "react-native": "0.71.12",
-    "react-native-windows": "0.71.45",
+    "react-native-windows": "0.71.46",
     "typescript": "^4.9.5"
   },
   "files": [
diff --git a/packages/@react-native-windows/tester/package.json b/packages/@react-native-windows/tester/package.json
index 2fab0788a92..11b62ed29a9 100644
--- a/packages/@react-native-windows/tester/package.json
+++ b/packages/@react-native-windows/tester/package.json
@@ -18,7 +18,7 @@
     "@react-native-picker/picker": "2.2.0",
     "react": "18.0.0",
     "react-native": "^0.71.0",
-    "react-native-windows": "0.71.45",
+    "react-native-windows": "0.71.46",
     "react-native-xaml": "^0.0.50"
   },
   "devDependencies": {
@@ -32,7 +32,7 @@
     "just-scripts": "^1.3.3",
     "react-native": "0.71.12",
     "react-native-platform-override": "^1.8.3",
-    "react-native-windows": "0.71.45",
+    "react-native-windows": "0.71.46",
     "typescript": "^4.9.5"
   },
   "engines": {
diff --git a/packages/e2e-test-app/package.json b/packages/e2e-test-app/package.json
index d552a8d62ec..bbc78d40b7c 100644
--- a/packages/e2e-test-app/package.json
+++ b/packages/e2e-test-app/package.json
@@ -20,7 +20,7 @@
     "@typescript-eslint/parser": "^5.21.0",
     "react": "18.2.0",
     "react-native": "0.71.12",
-    "react-native-windows": "0.71.45",
+    "react-native-windows": "0.71.46",
     "react-native-xaml": "^0.0.74"
   },
   "devDependencies": {
diff --git a/packages/integration-test-app/package.json b/packages/integration-test-app/package.json
index 3de617ce306..cd75af00971 100644
--- a/packages/integration-test-app/package.json
+++ b/packages/integration-test-app/package.json
@@ -17,7 +17,7 @@
     "chai": "^4.2.0",
     "react": "18.2.0",
     "react-native": "0.71.12",
-    "react-native-windows": "0.71.45"
+    "react-native-windows": "0.71.46"
   },
   "devDependencies": {
     "@babel/core": "^7.20.0",
diff --git a/packages/playground/package.json b/packages/playground/package.json
index 63008129c76..916bc7e2299 100644
--- a/packages/playground/package.json
+++ b/packages/playground/package.json
@@ -16,7 +16,7 @@
     "@typescript-eslint/parser": "^5.21.0",
     "react": "18.2.0",
     "react-native": "0.71.12",
-    "react-native-windows": "0.71.45"
+    "react-native-windows": "0.71.46"
   },
   "devDependencies": {
     "@babel/core": "^7.20.0",
diff --git a/packages/sample-apps/package.json b/packages/sample-apps/package.json
index a21088e0396..e343343383e 100644
--- a/packages/sample-apps/package.json
+++ b/packages/sample-apps/package.json
@@ -16,7 +16,7 @@
     "@typescript-eslint/parser": "^5.30.5",
     "react": "18.2.0",
     "react-native": "0.71.12",
-    "react-native-windows": "0.71.45"
+    "react-native-windows": "0.71.46"
   },
   "devDependencies": {
     "@babel/core": "^7.20.0",
diff --git a/vnext/CHANGELOG.json b/vnext/CHANGELOG.json
index fe0d7ab7f7f..7ff5e08750a 100644
--- a/vnext/CHANGELOG.json
+++ b/vnext/CHANGELOG.json
@@ -1,6 +1,21 @@
 {
   "name": "react-native-windows",
   "entries": [
+    {
+      "date": "Mon, 13 May 2024 15:14:04 GMT",
+      "tag": "react-native-windows_v0.71.46",
+      "version": "0.71.46",
+      "comments": {
+        "patch": [
+          {
+            "author": "vmorozov@microsoft.com",
+            "package": "react-native-windows",
+            "commit": "e71ad33daf1b50f1d9a584bd019f9bf4082b6467",
+            "comment": "Change Hermes package version to 0.1.21"
+          }
+        ]
+      }
+    },
     {
       "date": "Mon, 06 May 2024 15:14:30 GMT",
       "tag": "react-native-windows_v0.71.45",
diff --git a/vnext/CHANGELOG.md b/vnext/CHANGELOG.md
index ab348097d45..f1082b46641 100644
--- a/vnext/CHANGELOG.md
+++ b/vnext/CHANGELOG.md
@@ -1,9 +1,17 @@
 # Change Log - react-native-windows
 
-This log was last generated on Mon, 06 May 2024 15:14:30 GMT and should not be manually modified.
+This log was last generated on Mon, 13 May 2024 15:14:04 GMT and should not be manually modified.
 
 <!-- Start content -->
 
+## 0.71.46
+
+Mon, 13 May 2024 15:14:04 GMT
+
+### Patches
+
+- Change Hermes package version to 0.1.21 (vmorozov@microsoft.com)
+
 ## 0.71.45
 
 Mon, 06 May 2024 15:14:30 GMT
diff --git a/vnext/PropertySheets/Generated/PackageVersion.g.props b/vnext/PropertySheets/Generated/PackageVersion.g.props
index 49cfe90a7bb..58001660243 100644
--- a/vnext/PropertySheets/Generated/PackageVersion.g.props
+++ b/vnext/PropertySheets/Generated/PackageVersion.g.props
@@ -10,11 +10,11 @@
 -->
 <Project xmlns="http://schemas.microsoft.com/developer/msbuild/2003">
   <PropertyGroup>
-    <ReactNativeWindowsVersion>0.71.45</ReactNativeWindowsVersion>
+    <ReactNativeWindowsVersion>0.71.46</ReactNativeWindowsVersion>
     <ReactNativeWindowsMajor>0</ReactNativeWindowsMajor>
     <ReactNativeWindowsMinor>71</ReactNativeWindowsMinor>
-    <ReactNativeWindowsPatch>45</ReactNativeWindowsPatch>
+    <ReactNativeWindowsPatch>46</ReactNativeWindowsPatch>
     <ReactNativeWindowsCanary>false</ReactNativeWindowsCanary>
-    <ReactNativeWindowsCommitId>90e0aa5837a45b75eb4b1320d860a0bd30bcd07c</ReactNativeWindowsCommitId>
+    <ReactNativeWindowsCommitId>e71ad33daf1b50f1d9a584bd019f9bf4082b6467</ReactNativeWindowsCommitId>
   </PropertyGroup>
 </Project>
\ No newline at end of file
diff --git a/vnext/package.json b/vnext/package.json
index 0f353f0d6ee..4378ceacc63 100644
--- a/vnext/package.json
+++ b/vnext/package.json
@@ -1,6 +1,6 @@
 {
   "name": "react-native-windows",
-  "version": "0.71.45",
+  "version": "0.71.46",
   "license": "MIT",
   "repository": {
     "type": "git",