"Older game version" prompt persists until restart after updating profile to the latest release

I loaded up Minecraft on my Mac for the first time in forever and my main launcher profile was still set to Minecraft 1.7.3, so I updated it to use the latest release (currently 1.17.1) instead. However, the launcher still told me "This is an older game version that doesn't support the latest player safety features." Restarting the launcher fixed the issue.