diff --git a/pkgs/development/python-modules/lightning-utilities/default.nix b/pkgs/development/python-modules/lightning-utilities/default.nix
index 3af06818b8ee..7dba0a125f57 100644
--- a/pkgs/development/python-modules/lightning-utilities/default.nix
+++ b/pkgs/development/python-modules/lightning-utilities/default.nix
@@ -1,6 +1,7 @@
 { lib
 , buildPythonPackage
 , fetchFromGitHub
+, pythonAtLeast
 
 # build
 , setuptools
@@ -16,21 +17,21 @@
 
 buildPythonPackage rec {
   pname = "lightning-utilities";
-  version = "0.10.1";
-  format = "pyproject";
+  version = "0.11.2";
+  pyproject = true;
 
   src = fetchFromGitHub {
     owner = "Lightning-AI";
     repo = "utilities";
     rev = "refs/tags/v${version}";
-    hash = "sha256-kP7BllA9FR/nMNTxRCxmG6IJYHz/Nxqb1HoF9KxuKl8=";
+    hash = "sha256-IT9aRAUNc2cP2erLr0MglZSVLfDjOxg8PVIIe9AvO0o=";
   };
 
-  nativeBuildInputs = [
+  build-system = [
     setuptools
   ];
 
-  propagatedBuildInputs = [
+  dependencies = [
     packaging
     typing-extensions
   ];
@@ -53,6 +54,8 @@ buildPythonPackage rec {
     # fails another test
     "lightning_utilities.core.imports.ModuleAvailableCache"
     "lightning_utilities.core.imports.requires"
+    # Failed: DID NOT RAISE <class 'AssertionError'>
+    "test_no_warning_call"
   ];
 
   disabledTestPaths = [
@@ -71,6 +74,7 @@ buildPythonPackage rec {
     description = "Common Python utilities and GitHub Actions in Lightning Ecosystem";
     homepage = "https://github.com/Lightning-AI/utilities";
     license = licenses.asl20;
-    maintainers = with maintainers; [ ];
+    maintainers = with maintainers; [ GaetanLepage ];
+    broken = pythonAtLeast "3.12";
   };
 }
diff --git a/pkgs/development/python-modules/pretty-errors/default.nix b/pkgs/development/python-modules/pretty-errors/default.nix
new file mode 100644
index 000000000000..ce9b646a543c
--- /dev/null
+++ b/pkgs/development/python-modules/pretty-errors/default.nix
@@ -0,0 +1,40 @@
+{ lib
+, buildPythonPackage
+, fetchPypi
+, setuptools
+, wheel
+, colorama
+}:
+
+buildPythonPackage rec {
+  pname = "pretty-errors";
+  version = "1.2.25";
+  pyproject = true;
+
+  src = fetchPypi {
+    pname = "pretty_errors";
+    inherit version;
+    hash = "sha256-oWulx1LIfCY7+S+LS1hiTjseKScak5H1ZPErhuk8Z1U=";
+  };
+
+  build-system = [
+    setuptools
+    wheel
+  ];
+
+  dependencies = [
+    colorama
+  ];
+
+  pythonImportsCheck = [ "pretty_errors" ];
+
+  # No test
+  doCheck = false;
+
+  meta = with lib; {
+    description = "Prettifies Python exception output to make it legible";
+    homepage = "https://pypi.org/project/pretty-errors/";
+    license = licenses.mit;
+    maintainers = with maintainers; [ GaetanLepage ];
+  };
+}
diff --git a/pkgs/development/python-modules/torchmetrics/default.nix b/pkgs/development/python-modules/torchmetrics/default.nix
index e5c05c6dd497..5cc57ed0bed3 100644
--- a/pkgs/development/python-modules/torchmetrics/default.nix
+++ b/pkgs/development/python-modules/torchmetrics/default.nix
@@ -8,6 +8,7 @@
 , scikit-learn
 , scikit-image
 , packaging
+, pretty-errors
 , psutil
 , py-deprecate
 , torch
@@ -20,7 +21,7 @@
 
 let
   pname = "torchmetrics";
-  version = "1.3.2";
+  version = "1.4.0";
 in
 buildPythonPackage {
   inherit pname version;
@@ -32,13 +33,14 @@ buildPythonPackage {
     owner = "Lightning-AI";
     repo = "torchmetrics";
     rev = "refs/tags/v${version}";
-    hash = "sha256-0lverGF8HVlnwWmnCjScWoSfWPLZlMF2cHDG+uxNCCQ=";
+    hash = "sha256-5ANEpUdd5eyzBhhAEHrvHNHMOQuXhkkKuL1t3dJLhdE=";
   };
 
-  propagatedBuildInputs = [
+  dependencies = [
     numpy
     lightning-utilities
     packaging
+    pretty-errors
     py-deprecate
   ];
 
diff --git a/pkgs/top-level/python-packages.nix b/pkgs/top-level/python-packages.nix
index 35125e93d445..78ef8950be8d 100644
--- a/pkgs/top-level/python-packages.nix
+++ b/pkgs/top-level/python-packages.nix
@@ -10314,6 +10314,8 @@ self: super: with self; {
 
   pretend = callPackage ../development/python-modules/pretend { };
 
+  pretty-errors = callPackage ../development/python-modules/pretty-errors { };
+
   prettytable = callPackage ../development/python-modules/prettytable { };
 
   primecountpy = callPackage ../development/python-modules/primecountpy { };