diff --git a/package.json b/package.json
index 7be07be7e6..62eca6b344 100644
--- a/package.json
+++ b/package.json
@@ -76,7 +76,7 @@
         "@sentry/browser": "^7.0.0",
         "@testing-library/react-hooks": "^8.0.1",
         "@vector-im/compound-design-tokens": "^1.2.0",
-        "@vector-im/compound-web": "^4.1.2",
+        "@vector-im/compound-web": "^4.2.0",
         "@zxcvbn-ts/core": "^3.0.4",
         "@zxcvbn-ts/language-common": "^3.0.4",
         "@zxcvbn-ts/language-en": "^3.0.2",
diff --git a/res/css/views/rooms/_MessageComposerFormatBar.pcss b/res/css/views/rooms/_MessageComposerFormatBar.pcss
index 68520cc741..1cbabecc3a 100644
--- a/res/css/views/rooms/_MessageComposerFormatBar.pcss
+++ b/res/css/views/rooms/_MessageComposerFormatBar.pcss
@@ -102,9 +102,4 @@ limitations under the License.
     font-weight: var(--cpd-font-weight-semibold);
     min-width: 54px;
     text-align: center;
-
-    .mx_MessageComposerFormatBar_tooltipShortcut {
-        font-size: $font-9px;
-        opacity: 0.7;
-    }
 }
diff --git a/res/css/views/rooms/wysiwyg_composer/components/_FormattingButtons.pcss b/res/css/views/rooms/wysiwyg_composer/components/_FormattingButtons.pcss
index 8f23227c80..347f475063 100644
--- a/res/css/views/rooms/wysiwyg_composer/components/_FormattingButtons.pcss
+++ b/res/css/views/rooms/wysiwyg_composer/components/_FormattingButtons.pcss
@@ -64,19 +64,11 @@ limitations under the License.
     }
 }
 
-.mx_FormattingButtons_Tooltip {
-    padding: 0 2px 0 2px;
-
-    .mx_FormattingButtons_Tooltip_KeyboardShortcut {
-        color: $tertiary-content;
-
-        kbd {
-            margin-top: 2px;
-            text-align: center;
-            display: inline-block;
-            text-transform: capitalize;
-            font-size: 12px;
-            font-family: Inter, sans-serif;
-        }
+.mx_FormattingButtons_Tooltip_KeyboardShortcut {
+    kbd {
+        text-align: center;
+        display: inline-block;
+        text-transform: capitalize;
+        font-family: Inter, sans-serif;
     }
 }
diff --git a/src/components/views/elements/AccessibleButton.tsx b/src/components/views/elements/AccessibleButton.tsx
index 055818f742..d94162393e 100644
--- a/src/components/views/elements/AccessibleButton.tsx
+++ b/src/components/views/elements/AccessibleButton.tsx
@@ -92,12 +92,12 @@ type Props<T extends keyof JSX.IntrinsicElements> = DynamicHtmlElementProps<T> &
     /**
      * The tooltip to show on hover or focus.
      */
-    title?: string;
+    title?: TooltipProps["label"];
     /**
      * The caption is a secondary text displayed under the `title` of the tooltip.
      * Only valid when used in conjunction with `title`.
      */
-    caption?: string;
+    caption?: TooltipProps["caption"];
     /**
      * The placement of the tooltip.
      */
diff --git a/src/components/views/rooms/MessageComposer.tsx b/src/components/views/rooms/MessageComposer.tsx
index f9aae433fe..613701bf23 100644
--- a/src/components/views/rooms/MessageComposer.tsx
+++ b/src/components/views/rooms/MessageComposer.tsx
@@ -35,7 +35,6 @@ import { makeRoomPermalink, RoomPermalinkCreator } from "../../../utils/permalin
 import E2EIcon from "./E2EIcon";
 import SettingsStore from "../../../settings/SettingsStore";
 import { aboveLeftOf, MenuProps } from "../../structures/ContextMenu";
-import AccessibleTooltipButton from "../elements/AccessibleTooltipButton";
 import ReplyPreview from "./ReplyPreview";
 import { UPDATE_EVENT } from "../../../stores/AsyncStore";
 import VoiceRecordComposerTile from "./VoiceRecordComposerTile";
@@ -52,7 +51,7 @@ import UIStore, { UI_EVENTS } from "../../../stores/UIStore";
 import RoomContext from "../../../contexts/RoomContext";
 import { SettingUpdatedPayload } from "../../../dispatcher/payloads/SettingUpdatedPayload";
 import MessageComposerButtons from "./MessageComposerButtons";
-import { ButtonEvent } from "../elements/AccessibleButton";
+import AccessibleButton, { ButtonEvent } from "../elements/AccessibleButton";
 import { ViewRoomPayload } from "../../../dispatcher/payloads/ViewRoomPayload";
 import { isLocalRoom } from "../../../utils/localRoom/isLocalRoom";
 import { Features } from "../../../settings/Settings";
@@ -75,7 +74,7 @@ interface ISendButtonProps {
 
 function SendButton(props: ISendButtonProps): JSX.Element {
     return (
-        <AccessibleTooltipButton
+        <AccessibleButton
             className="mx_MessageComposer_sendMessage"
             onClick={props.onClick}
             title={props.title ?? _t("composer|send_button_title")}
diff --git a/src/components/views/rooms/MessageComposerButtons.tsx b/src/components/views/rooms/MessageComposerButtons.tsx
index 7f23efbce2..77d809d1f8 100644
--- a/src/components/views/rooms/MessageComposerButtons.tsx
+++ b/src/components/views/rooms/MessageComposerButtons.tsx
@@ -19,7 +19,6 @@ import { IEventRelation, Room, MatrixClient, THREAD_RELATION_TYPE, M_POLL_START
 import React, { createContext, ReactElement, ReactNode, useContext, useRef } from "react";
 
 import { _t } from "../../../languageHandler";
-import AccessibleTooltipButton from "../elements/AccessibleTooltipButton";
 import { CollapsibleButton } from "./CollapsibleButton";
 import { MenuProps } from "../../structures/ContextMenu";
 import dis from "../../../dispatcher/dispatcher";
@@ -37,7 +36,7 @@ import IconizedContextMenu, { IconizedContextMenuOptionList } from "../context_m
 import { EmojiButton } from "./EmojiButton";
 import { filterBoolean } from "../../../utils/arrays";
 import { useSettingValue } from "../../../hooks/useSettings";
-import { ButtonEvent } from "../elements/AccessibleButton";
+import AccessibleButton, { ButtonEvent } from "../elements/AccessibleButton";
 
 interface IProps {
     addEmoji: (emoji: string) => boolean;
@@ -128,7 +127,7 @@ const MessageComposerButtons: React.FC<IProps> = (props: IProps) => {
         <UploadButtonContextProvider roomId={room.roomId} relation={props.relation}>
             {mainButtons}
             {moreButtons.length > 0 && (
-                <AccessibleTooltipButton
+                <AccessibleButton
                     className={moreOptionsClasses}
                     onClick={props.toggleButtonMenu}
                     title={_t("quick_settings|sidebar_settings")}
diff --git a/src/components/views/rooms/wysiwyg_composer/components/FormattingButtons.tsx b/src/components/views/rooms/wysiwyg_composer/components/FormattingButtons.tsx
index bf0ad48cf5..0b09654b7f 100644
--- a/src/components/views/rooms/wysiwyg_composer/components/FormattingButtons.tsx
+++ b/src/components/views/rooms/wysiwyg_composer/components/FormattingButtons.tsx
@@ -30,54 +30,42 @@ import { Icon as NumberedListIcon } from "../../../../../../res/img/element-icon
 import { Icon as CodeBlockIcon } from "../../../../../../res/img/element-icons/room/composer/code_block.svg";
 import { Icon as IndentIcon } from "../../../../../../res/img/element-icons/room/composer/indent_increase.svg";
 import { Icon as UnIndentIcon } from "../../../../../../res/img/element-icons/room/composer/indent_decrease.svg";
-import AccessibleTooltipButton from "../../../elements/AccessibleTooltipButton";
-import { Alignment } from "../../../elements/Tooltip";
-import { KeyboardShortcut } from "../../../settings/KeyboardShortcut";
-import { KeyCombo } from "../../../../../KeyBindingsManager";
 import { _t } from "../../../../../languageHandler";
-import { ButtonEvent } from "../../../elements/AccessibleButton";
+import AccessibleButton, { ButtonEvent } from "../../../elements/AccessibleButton";
 import { openLinkModal } from "./LinkModal";
 import { useComposerContext } from "../ComposerContext";
+import { KeyboardShortcut } from "../../../settings/KeyboardShortcut";
+import { KeyCombo } from "../../../../../KeyBindingsManager";
 
-interface TooltipProps {
+interface ButtonProps {
+    icon: ReactNode;
+    actionState: ActionState;
+    onClick: MouseEventHandler<HTMLButtonElement>;
     label: string;
     keyCombo?: KeyCombo;
 }
 
-function Tooltip({ label, keyCombo }: TooltipProps): JSX.Element {
-    return (
-        <div className="mx_FormattingButtons_Tooltip">
-            {label}
-            {keyCombo && (
-                <KeyboardShortcut value={keyCombo} className="mx_FormattingButtons_Tooltip_KeyboardShortcut" />
-            )}
-        </div>
-    );
-}
-
-interface ButtonProps extends TooltipProps {
-    icon: ReactNode;
-    actionState: ActionState;
-    onClick: MouseEventHandler<HTMLButtonElement>;
-}
-
 function Button({ label, keyCombo, onClick, actionState, icon }: ButtonProps): JSX.Element {
     return (
-        <AccessibleTooltipButton
+        <AccessibleButton
             element="button"
             onClick={onClick as (e: ButtonEvent) => void}
-            title={label}
+            aria-label={label}
             className={classNames("mx_FormattingButtons_Button", {
                 mx_FormattingButtons_active: actionState === "reversed",
                 mx_FormattingButtons_Button_hover: actionState === "enabled",
                 mx_FormattingButtons_disabled: actionState === "disabled",
             })}
-            tooltip={keyCombo && <Tooltip label={label} keyCombo={keyCombo} />}
-            forceHide={actionState === "disabled"}
-            alignment={Alignment.Top}
+            title={actionState === "disabled" ? undefined : label}
+            caption={
+                keyCombo && (
+                    <KeyboardShortcut value={keyCombo} className="mx_FormattingButtons_Tooltip_KeyboardShortcut" />
+                )
+            }
+            placement="top"
         >
             {icon}
-        </AccessibleTooltipButton>
+        </AccessibleButton>
     );
 }
 
diff --git a/test/components/views/rooms/wysiwyg_composer/components/FormattingButtons-test.tsx b/test/components/views/rooms/wysiwyg_composer/components/FormattingButtons-test.tsx
index 1e41b57162..6055d6bab7 100644
--- a/test/components/views/rooms/wysiwyg_composer/components/FormattingButtons-test.tsx
+++ b/test/components/views/rooms/wysiwyg_composer/components/FormattingButtons-test.tsx
@@ -15,7 +15,7 @@ limitations under the License.
 */
 
 import React from "react";
-import { cleanup, render, screen } from "@testing-library/react";
+import { cleanup, render, screen, waitFor } from "@testing-library/react";
 import userEvent from "@testing-library/user-event";
 import { ActionState, ActionTypes, AllActionStates, FormattingFunctions } from "@matrix-org/matrix-wysiwyg";
 
@@ -135,7 +135,7 @@ describe("FormattingButtons", () => {
             const { label } = testCase;
 
             await userEvent.hover(screen.getByLabelText(label));
-            expect(screen.getByText(label)).toBeInTheDocument();
+            await waitFor(() => expect(screen.getByText(label)).toBeInTheDocument());
         }
     });
 
diff --git a/yarn.lock b/yarn.lock
index 38b88f2a63..2ed1cbc0ab 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -3097,10 +3097,10 @@
   dependencies:
     svg2vectordrawable "^2.9.1"
 
-"@vector-im/compound-web@^4.1.2":
-  version "4.1.2"
-  resolved "https://registry.yarnpkg.com/@vector-im/compound-web/-/compound-web-4.1.2.tgz#d8f9ba523700660942722a800c64406216bbbfea"
-  integrity sha512-u/jj8HF8qpX1NU+sh6f/S1B7HUMGcoAGYLH0wc5lVbf6x6elBsYKD0LSa+/8NDPuQqVWMztu76chUsM5slC49w==
+"@vector-im/compound-web@^4.2.0":
+  version "4.2.0"
+  resolved "https://registry.yarnpkg.com/@vector-im/compound-web/-/compound-web-4.2.0.tgz#16915a5e64c405360fc049ddfa39b5185725f950"
+  integrity sha512-VSZxIFToDesjiiCGLOj+DrrKv1I0rtpzJbdylarJXY7REnHzVdgaBBtGm403iJ8KkZ2Rn16Mxe+P1/+VS4yiAA==
   dependencies:
     "@floating-ui/react" "^0.26.9"
     "@floating-ui/react-dom" "^2.0.8"