diff --git a/conda/environments/all_cuda-118_arch-x86_64.yaml b/conda/environments/all_cuda-118_arch-x86_64.yaml
index 5885d154aa5..5d2c942cd0c 100644
--- a/conda/environments/all_cuda-118_arch-x86_64.yaml
+++ b/conda/environments/all_cuda-118_arch-x86_64.yaml
@@ -71,7 +71,7 @@ dependencies:
 - sphinx-markdown-tables
 - sphinx<6
 - sphinxcontrib-websupport
-- thriftpy2<=0.5.0
+- thriftpy2!=0.5.0,!=0.5.1
 - ucx-proc=*=gpu
 - ucx-py==0.39.*,>=0.0.0a0
 - wget
diff --git a/conda/environments/all_cuda-125_arch-x86_64.yaml b/conda/environments/all_cuda-125_arch-x86_64.yaml
index 8e7c2156b93..f8a95169ddd 100644
--- a/conda/environments/all_cuda-125_arch-x86_64.yaml
+++ b/conda/environments/all_cuda-125_arch-x86_64.yaml
@@ -76,7 +76,7 @@ dependencies:
 - sphinx-markdown-tables
 - sphinx<6
 - sphinxcontrib-websupport
-- thriftpy2<=0.5.0
+- thriftpy2!=0.5.0,!=0.5.1
 - ucx-proc=*=gpu
 - ucx-py==0.39.*,>=0.0.0a0
 - wget
diff --git a/conda/recipes/cugraph-service/meta.yaml b/conda/recipes/cugraph-service/meta.yaml
index 79b2837eb53..225f40fe2ec 100644
--- a/conda/recipes/cugraph-service/meta.yaml
+++ b/conda/recipes/cugraph-service/meta.yaml
@@ -32,7 +32,7 @@ outputs:
         - rapids-build-backend>=0.3.1,<0.4.0.dev0
       run:
         - python
-        - thriftpy2 >=0.4.15
+        - thriftpy2 >=0.4.15,!=0.5.0,!=0.5.1
 
   - name: cugraph-service-server
     version: {{ version }}
@@ -65,7 +65,7 @@ outputs:
         - numpy >=1.23,<2.0a0
         - python
         - rapids-dask-dependency ={{ minor_version }}
-        - thriftpy2 >=0.4.15
+        - thriftpy2 >=0.4.15,!=0.5.0,!=0.5.1
         - ucx-py {{ ucx_py_version }}
 
 tests:
diff --git a/dependencies.yaml b/dependencies.yaml
index 1ef92274bde..c25dcf40cf3 100644
--- a/dependencies.yaml
+++ b/dependencies.yaml
@@ -563,9 +563,7 @@ dependencies:
     common:
       - output_types: [conda, pyproject]
         packages:
-          # this thriftpy2 entry can be removed entirely (or switched to a '!=')
-          # once a new release of that project resolves https://github.com/Thriftpy/thriftpy2/issues/281
-          - &thrift thriftpy2<=0.5.0
+          - &thrift thriftpy2!=0.5.0,!=0.5.1
   python_run_cugraph_service_server:
     common:
       - output_types: [conda, pyproject]
diff --git a/python/cugraph-service/client/pyproject.toml b/python/cugraph-service/client/pyproject.toml
index e805a2aac95..53170e888ba 100644
--- a/python/cugraph-service/client/pyproject.toml
+++ b/python/cugraph-service/client/pyproject.toml
@@ -20,7 +20,7 @@ authors = [
 license = { text = "Apache 2.0" }
 requires-python = ">=3.9"
 dependencies = [
-    "thriftpy2<=0.5.0",
+    "thriftpy2!=0.5.0,!=0.5.1",
 ] # This list was generated by `rapids-dependency-file-generator`. To make changes, edit ../../../dependencies.yaml and run `rapids-dependency-file-generator`.
 classifiers = [
     "Intended Audience :: Developers",
diff --git a/python/cugraph-service/server/pyproject.toml b/python/cugraph-service/server/pyproject.toml
index 2369c47b6d6..4a79e13e532 100644
--- a/python/cugraph-service/server/pyproject.toml
+++ b/python/cugraph-service/server/pyproject.toml
@@ -30,7 +30,7 @@ dependencies = [
     "numpy>=1.23,<2.0a0",
     "rapids-dask-dependency==24.8.*,>=0.0.0a0",
     "rmm==24.8.*,>=0.0.0a0",
-    "thriftpy2<=0.5.0",
+    "thriftpy2!=0.5.0,!=0.5.1",
     "ucx-py==0.39.*,>=0.0.0a0",
 ] # This list was generated by `rapids-dependency-file-generator`. To make changes, edit ../../../dependencies.yaml and run `rapids-dependency-file-generator`.
 classifiers = [