diff --git a/package.json b/package.json
index 660576f5f5..695623d386 100644
--- a/package.json
+++ b/package.json
@@ -52,7 +52,6 @@
     "express-rate-limit": "^5.1.3",
     "extract-text-webpack-plugin": "^4.0.0-beta.0",
     "falsey": "^1.0.0",
-    "fast-memoize": "^2.5.2",
     "file-loader": "^1.1.11",
     "flatley": "^5.2.0",
     "graphql": "^15.0.0",
diff --git a/src/fields/performFieldOperations.js b/src/fields/performFieldOperations.js
index b0f83da5a0..af02faa15c 100644
--- a/src/fields/performFieldOperations.js
+++ b/src/fields/performFieldOperations.js
@@ -1,4 +1,4 @@
-const memoize = require('fast-memoize');
+const memoize = require('micro-memoize');
 const { ValidationError } = require('../errors');
 const sanitizeFallbackLocale = require('../localization/sanitizeFallbackLocale');
 const traverseFields = require('./traverseFields');
@@ -102,7 +102,7 @@ async function performFieldOperations(entityConfig, args) {
   };
 
   const populate = memoize(nonMemoizedPopulate, {
-    serializer: (populateArgs) => JSON.stringify(populateArgs[0]),
+    isPromise: true,
   });
 
   // //////////////////////////////////////////
diff --git a/yarn.lock b/yarn.lock
index d2a6ca673a..c8a6e86830 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -4722,11 +4722,6 @@ fast-levenshtein@~2.0.6:
   resolved "https://registry.yarnpkg.com/fast-levenshtein/-/fast-levenshtein-2.0.6.tgz#3d8a5c66883a16a30ca8643e851f19baa7797917"
   integrity sha1-PYpcZog6FqMMqGQ+hR8Zuqd5eRc=
 
-fast-memoize@^2.5.2:
-  version "2.5.2"
-  resolved "https://registry.yarnpkg.com/fast-memoize/-/fast-memoize-2.5.2.tgz#79e3bb6a4ec867ea40ba0e7146816f6cdce9b57e"
-  integrity sha512-Ue0LwpDYErFbmNnZSF0UH6eImUwDmogUO1jyE+JbN2gsQz/jICm1Ve7t9QT0rNSsfJt+Hs4/S3GnsDVjL4HVrw==
-
 fast-redact@^2.0.0:
   version "2.1.0"
   resolved "https://registry.yarnpkg.com/fast-redact/-/fast-redact-2.1.0.tgz#dfe3c1ca69367fb226f110aa4ec10ec85462ffdf"