diff --git a/src/plugins/mcusupport/mcupackage.cpp b/src/plugins/mcusupport/mcupackage.cpp
index 2ff913c680e..efcff77352b 100644
--- a/src/plugins/mcusupport/mcupackage.cpp
+++ b/src/plugins/mcusupport/mcupackage.cpp
@@ -43,11 +43,11 @@ McuPackage::McuPackage(const SettingsHandler::Ptr &settingsHandler,
                        const McuPackageVersionDetector *versionDetector,
                        const bool addToSystemPath,
                        const Utils::PathChooser::Kind &valueType,
-                       const bool useNewestVersionKey)
+                       const bool allowNewerVersionKey)
     : settingsHandler(settingsHandler)
     , m_label(label)
     , m_detectionPaths(detectionPaths)
-    , m_settingsKey(settingsHandler->getVersionedKey(settingsKey, QSettings::SystemScope, versions, useNewestVersionKey))
+    , m_settingsKey(settingsKey)
     , m_versionDetector(versionDetector)
     , m_versions(versions)
     , m_cmakeVariableName(cmakeVarName)
@@ -56,8 +56,18 @@ McuPackage::McuPackage(const SettingsHandler::Ptr &settingsHandler,
     , m_addToSystemPath(addToSystemPath)
     , m_valueType(valueType)
 {
-    m_defaultPath = settingsHandler->getPath(m_settingsKey, QSettings::SystemScope, defaultPath);
-    m_path = settingsHandler->getPath(m_settingsKey, QSettings::UserScope, m_defaultPath);
+    // The installer writes versioned keys as well as the plain key as found in the kits.
+    // Use the versioned key in case the plain key was removed by an uninstall operation
+    const Utils::Key versionedKey = settingsHandler->getVersionedKey(settingsKey,
+                                                                     QSettings::SystemScope,
+                                                                     versions,
+                                                                     allowNewerVersionKey);
+    m_defaultPath = settingsHandler->getPath(versionedKey, QSettings::SystemScope, defaultPath);
+    m_path = settingsHandler->getPath(m_settingsKey, QSettings::UserScope, "");
+    // The user settings may have been written with a versioned key in older versions of QtCreator
+    if (m_path.isEmpty()) {
+        m_path = settingsHandler->getPath(versionedKey, QSettings::UserScope, m_defaultPath);
+    }
     if (m_path.isEmpty()) {
         m_path = FilePath::fromUserInput(qtcEnvironmentVariable(m_environmentVariableName));
     }
diff --git a/src/plugins/mcusupport/mcupackage.h b/src/plugins/mcusupport/mcupackage.h
index a74c08bcf2d..7b9ef646506 100644
--- a/src/plugins/mcusupport/mcupackage.h
+++ b/src/plugins/mcusupport/mcupackage.h
@@ -41,7 +41,7 @@ public:
                const bool addToPath = false,
                const Utils::PathChooser::Kind &valueType
                = Utils::PathChooser::Kind::ExistingDirectory,
-               const bool useNewestVersionKey = false);
+               const bool allowNewerVersionKey = false);
 
     ~McuPackage() override = default;
 
diff --git a/src/plugins/mcusupport/settingshandler.cpp b/src/plugins/mcusupport/settingshandler.cpp
index 1ecec030b45..939ba125d1c 100644
--- a/src/plugins/mcusupport/settingshandler.cpp
+++ b/src/plugins/mcusupport/settingshandler.cpp
@@ -105,12 +105,24 @@ FilePath SettingsHandler::getPath(const Key &settingsKey,
 
 bool SettingsHandler::write(const Key &settingsKey,
                             const FilePath &path,
-                            const FilePath &defaultPath) const
+                            const FilePath &maybeDefaultPath) const
 {
     const FilePath savedPath = packagePathFromSettings(settingsKey,
                                                        *Core::ICore::settings(QSettings::UserScope),
-                                                       defaultPath);
+                                                       maybeDefaultPath);
     const Key key = Key(Constants::SETTINGS_GROUP) + '/' + Constants::SETTINGS_KEY_PACKAGE_PREFIX + settingsKey;
+
+    FilePath defaultPath = maybeDefaultPath;
+    if (path == maybeDefaultPath) {
+        // If the installer has overwritten the non-versioned key with an older version than the
+        // newest versioned key, and the user wants to manually return to the newest installed
+        // version, the defaultPath will match the desired path, and the settings object will
+        // assume it can simply remove the key instead of writing a new value to it.
+        // To work around this, pretend like the default value is the value found from the global scope
+        defaultPath = packagePathFromSettings(settingsKey,
+                                              *Core::ICore::settings(QSettings::SystemScope),
+                                              maybeDefaultPath);;
+    }
     Core::ICore::settings()->setValueWithDefault(key,
                                                  path.toUserOutput(),
                                                  defaultPath.toUserOutput());