diff --git a/VERSION b/VERSION
index 3a3cd8cc8b..88c5fb891d 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.3.1
+1.4.0
diff --git a/external/timemory b/external/timemory
index a3283389f6..97c7415498 160000
--- a/external/timemory
+++ b/external/timemory
@@ -1 +1 @@
-Subproject commit a3283389f6d8c8d975db250401ca7fbb29043649
+Subproject commit 97c74154988414ed8e0339bd1585829aa598dcdd
diff --git a/source/lib/omnitrace/library/config.cpp b/source/lib/omnitrace/library/config.cpp
index 41516cfe75..525eaad0be 100644
--- a/source/lib/omnitrace/library/config.cpp
+++ b/source/lib/omnitrace/library/config.cpp
@@ -356,12 +356,12 @@ configure_settings(bool _init)
     OMNITRACE_CONFIG_SETTING(bool, "OMNITRACE_TRACE_THREAD_RW_LOCKS",
                              "Enable tracing calls to pthread_rwlock_* functions. May "
                              "cause deadlocks with ROCm-enabled OpenMPI.",
-                             false, "backend", "parallelism", "gotcha", "advanced");
+                             true, "backend", "parallelism", "gotcha", "advanced");
 
     OMNITRACE_CONFIG_SETTING(bool, "OMNITRACE_TRACE_THREAD_SPIN_LOCKS",
                              "Enable tracing calls to pthread_spin_* functions. May "
                              "cause deadlocks with MPI distributions.",
-                             false, "backend", "parallelism", "gotcha", "advanced");
+                             true, "backend", "parallelism", "gotcha", "advanced");
 
     OMNITRACE_CONFIG_SETTING(
         bool, "OMNITRACE_SAMPLING_KEEP_INTERNAL",