diff --git a/components/esp_system/Kconfig b/components/esp_system/Kconfig
index 6ec849a7c0..5cdab58bf0 100644
--- a/components/esp_system/Kconfig
+++ b/components/esp_system/Kconfig
@@ -227,7 +227,6 @@ menu "ESP System Settings"
             depends on (IDF_TARGET_ESP32S2 || IDF_TARGET_ESP32S3)  && !TINY_USB
         config ESP_CONSOLE_USB_SERIAL_JTAG
             bool "USB Serial/JTAG Controller"
-            select ESPTOOLPY_NO_STUB if IDF_TARGET_ESP32S3  #ESPTOOL-251
             select ESPTOOLPY_NO_STUB if IDF_TARGET_ESP32C3  #ESPTOOL-252
             depends on IDF_TARGET_ESP32C3 || IDF_TARGET_ESP32S3
         config ESP_CONSOLE_UART_CUSTOM
diff --git a/components/esptool_py/Kconfig.projbuild b/components/esptool_py/Kconfig.projbuild
index 2e66772ade..2e45a3177a 100644
--- a/components/esptool_py/Kconfig.projbuild
+++ b/components/esptool_py/Kconfig.projbuild
@@ -144,10 +144,14 @@ menu "Serial flasher config"
         # On some of the ESP chips, max boot frequency would be equal to (or even lower than) 80m.
         # We currently define this to `80m`.
         default "80m" if ESPTOOLPY_FLASHFREQ_120M
-        default "80m" if ESPTOOLPY_FLASHFREQ_80M
-        default "40m" if ESPTOOLPY_FLASHFREQ_40M
-        default "26m" if ESPTOOLPY_FLASHFREQ_26M
-        default "20m" if ESPTOOLPY_FLASHFREQ_20M
+        # Temporarily support h2, because not consistent with esptool, will be cleaned up in IDF-4474
+        default "80m" if ESPTOOLPY_FLASHFREQ_80M && !IDF_TARGET_ESP32H2
+        default "40m" if ESPTOOLPY_FLASHFREQ_40M && !IDF_TARGET_ESP32H2
+        default "26m" if ESPTOOLPY_FLASHFREQ_26M && !IDF_TARGET_ESP32H2
+        default "20m" if ESPTOOLPY_FLASHFREQ_20M && !IDF_TARGET_ESP32H2
+        default "48m" if ESPTOOLPY_FLASHFREQ_80M && IDF_TARGET_ESP32H2
+        default "24m" if ESPTOOLPY_FLASHFREQ_40M && IDF_TARGET_ESP32H2
+        default "12m" if ESPTOOLPY_FLASHFREQ_20M && IDF_TARGET_ESP32H2
 
 
     choice ESPTOOLPY_FLASHSIZE
diff --git a/components/esptool_py/esptool b/components/esptool_py/esptool
index 66e1f163a4..aca9d70bd8 160000
--- a/components/esptool_py/esptool
+++ b/components/esptool_py/esptool
@@ -1 +1 @@
-Subproject commit 66e1f163a4f9a32041ec48b8aa7ab958831f8410
+Subproject commit aca9d70bd810c25bc953ca2f7587892c4dbaffc4