diff --git a/base/loading.jl b/base/loading.jl
index 8ed43e4539c20..024c4ceb356fd 100644
--- a/base/loading.jl
+++ b/base/loading.jl
@@ -1828,7 +1828,7 @@ function compilecache_path(pkg::PkgId;
     path = nothing
     isnothing(sourcepath) && error("Cannot locate source for $(repr("text/plain", pkg))")
     for path_to_try in cachepaths
-        staledeps = stale_cachefile(sourcepath, path_to_try, ignore_loaded = true, requested_flags=flags)
+        staledeps = stale_cachefile(sourcepath, path_to_try; ignore_loaded, requested_flags=flags)
         if staledeps === true
             continue
         end
@@ -2649,7 +2649,7 @@ function __require_prelocked(pkg::PkgId, env)
                 parallel_precompile_attempted = true
                 unlock(require_lock)
                 try
-                    Precompilation.precompilepkgs([pkg.name]; _from_loading=true)
+                    Precompilation.precompilepkgs([pkg.name]; _from_loading=true, ignore_loaded=false)
                 finally
                     lock(require_lock)
                 end
diff --git a/base/precompilation.jl b/base/precompilation.jl
index c493690bab64e..c7dcd0af64caa 100644
--- a/base/precompilation.jl
+++ b/base/precompilation.jl
@@ -418,11 +418,12 @@ function precompilepkgs(pkgs::Vector{String}=String[];
                         io::IO=stderr,
                         # asking for timing disables fancy mode, as timing is shown in non-fancy mode
                         fancyprint::Bool = can_fancyprint(io) && !timing,
-                        manifest::Bool=false,)
+                        manifest::Bool=false,
+                        ignore_loaded::Bool=true)
     # monomorphize this to avoid latency problems
     _precompilepkgs(pkgs, internal_call, strict, warn_loaded, timing, _from_loading,
                    configs isa Vector{Config} ? configs : [configs],
-                   IOContext{IO}(io), fancyprint, manifest)
+                   IOContext{IO}(io), fancyprint, manifest, ignore_loaded)
 end
 
 function _precompilepkgs(pkgs::Vector{String},
@@ -434,7 +435,8 @@ function _precompilepkgs(pkgs::Vector{String},
                          configs::Vector{Config},
                          io::IOContext{IO},
                          fancyprint::Bool,
-                         manifest::Bool)
+                         manifest::Bool,
+                         ignore_loaded::Bool)
     requested_pkgs = copy(pkgs) # for understanding user intent
 
     time_start = time_ns()
@@ -918,7 +920,7 @@ function _precompilepkgs(pkgs::Vector{String},
                         wait(was_processed[(dep,config)])
                     end
                     circular = pkg in circular_deps
-                    is_stale = !Base.isprecompiled(pkg; ignore_loaded=true, stale_cache, cachepath_cache, cachepaths, sourcepath, flags=cacheflags)
+                    is_stale = !Base.isprecompiled(pkg; ignore_loaded, stale_cache, cachepath_cache, cachepaths, sourcepath, flags=cacheflags)
                     if !circular && is_stale
                         Base.acquire(parallel_limiter)
                         is_project_dep = pkg in project_deps
@@ -944,10 +946,10 @@ function _precompilepkgs(pkgs::Vector{String},
                         try
                             # allows processes to wait if another process is precompiling a given package to
                             # a functionally identical package cache (except for preferences, which may differ)
-                            t = @elapsed ret = precompile_pkgs_maybe_cachefile_lock(io, print_lock, fancyprint, pkg_config, pkgspidlocked, hascolor, parallel_limiter) do
+                            t = @elapsed ret = precompile_pkgs_maybe_cachefile_lock(io, print_lock, fancyprint, pkg_config, pkgspidlocked, hascolor, parallel_limiter, ignore_loaded) do
                                 Base.with_logger(Base.NullLogger()) do
-                                    # The false here means we ignore loaded modules, so precompile for a fresh session
-                                    keep_loaded_modules = false
+                                    # whether to respect already loaded dependency versions
+                                    keep_loaded_modules = !ignore_loaded
                                     # for extensions, any extension in our direct dependencies is one we have a right to load
                                     # for packages, we may load any extension (all possible triggers are accounted for above)
                                     loadable_exts = haskey(ext_to_parent, pkg) ? filter((dep)->haskey(ext_to_parent, dep), direct_deps[pkg]) : nothing
@@ -1037,9 +1039,11 @@ function _precompilepkgs(pkgs::Vector{String},
                     plural1 = length(configs) > 1 ? "dependency configurations" : n_loaded == 1 ? "dependency" : "dependencies"
                     plural2 = n_loaded == 1 ? "a different version is" : "different versions are"
                     plural3 = n_loaded == 1 ? "" : "s"
+                    plural4 = n_loaded == 1 ? "this package" : "these packages"
                     print(iostr, "\n  ",
                         color_string(string(n_loaded), Base.warn_color()),
-                        " $(plural1) precompiled but $(plural2) currently loaded. Restart julia to access the new version$(plural3)"
+                        " $(plural1) precompiled but $(plural2) currently loaded. Restart julia to access the new version$(plural3). \
+                        Otherwise, loading dependents of $(plural4) may trigger further precompilation to work with the unexpected version$(plural3)."
                     )
                 end
                 if !isempty(precomperr_deps)
@@ -1130,7 +1134,7 @@ function _color_string(cstr::String, col::Union{Int64, Symbol}, hascolor)
 end
 
 # Can be merged with `maybe_cachefile_lock` in loading?
-function precompile_pkgs_maybe_cachefile_lock(f, io::IO, print_lock::ReentrantLock, fancyprint::Bool, pkg_config, pkgspidlocked, hascolor, parallel_limiter::Base.Semaphore)
+function precompile_pkgs_maybe_cachefile_lock(f, io::IO, print_lock::ReentrantLock, fancyprint::Bool, pkg_config, pkgspidlocked, hascolor, parallel_limiter::Base.Semaphore, ignore_loaded::Bool)
     if !(isdefined(Base, :mkpidlock_hook) && isdefined(Base, :trymkpidlock_hook) && Base.isdefined(Base, :parse_pidfile_hook))
         return f()
     end
@@ -1158,7 +1162,7 @@ function precompile_pkgs_maybe_cachefile_lock(f, io::IO, print_lock::ReentrantLo
             # wait until the lock is available
             @invokelatest Base.mkpidlock_hook(() -> begin
                     # double-check in case the other process crashed or the lock expired
-                    if Base.isprecompiled(pkg; ignore_loaded=true, flags=cacheflags) # don't use caches for this as the env state will have changed
+                    if Base.isprecompiled(pkg; ignore_loaded, flags=cacheflags) # don't use caches for this as the env state will have changed
                         return nothing # returning nothing indicates a process waited for another
                     else
                         delete!(pkgspidlocked, pkg_config)