diff --git a/pkgs/development/compilers/open-watcom/v2.nix b/pkgs/development/compilers/open-watcom/v2.nix
index 9d8a2367b934..a61a66ada934 100644
--- a/pkgs/development/compilers/open-watcom/v2.nix
+++ b/pkgs/development/compilers/open-watcom/v2.nix
@@ -13,19 +13,19 @@
 stdenv.mkDerivation rec {
   pname = "${passthru.prettyName}-unwrapped";
   # nixpkgs-update: no auto update
-  version = "unstable-2022-10-03";
+  version = "unstable-2023-01-30";
 
   src = fetchFromGitHub {
     owner = "open-watcom";
     repo = "open-watcom-v2";
-    rev = "61538429a501a09f369366d832799f2e3b196a02";
-    sha256 = "sha256-YvqRw0klSqOxIuO5QFKjcUp6aRWlO2j3L+T1ekx8SfA=";
+    rev = "996740acdbb173499ec1bf2ba6c8942f2a374220";
+    sha256 = "sha256-9m+0e2v1Hk8jYZHqJwb1mN02WgGDArsWbF7Ut3Z5OIg=";
   };
 
   postPatch = ''
     patchShebangs *.sh
 
-    for dateSource in cmnvars.sh bld/wipfc/configure; do
+    for dateSource in bld/wipfc/configure; do
       substituteInPlace $dateSource \
         --replace '`date ' '`date -ud "@$SOURCE_DATE_EPOCH" '
     done
@@ -35,14 +35,17 @@ stdenv.mkDerivation rec {
       --replace '__TIME__' "\"$(date -ud "@$SOURCE_DATE_EPOCH" +'%T')\""
 
     substituteInPlace build/makeinit \
-      --replace '%__CYEAR__' '%OWCYEAR'
+      --replace '$+$(%__CYEAR__)$-' "$(date -ud "@$SOURCE_DATE_EPOCH" +'%Y')"
   '' + lib.optionalString (!stdenv.hostPlatform.isDarwin) ''
     substituteInPlace build/mif/local.mif \
       --replace '-static' ""
   '';
 
-  nativeBuildInputs = [ dosbox ]
-    ++ lib.optional withDocs ghostscript;
+  nativeBuildInputs = [
+    dosbox
+  ] ++ lib.optionals withDocs [
+    ghostscript
+  ];
 
   configurePhase = ''
     runHook preConfigure
@@ -120,7 +123,8 @@ stdenv.mkDerivation rec {
     '';
     homepage = "https://open-watcom.github.io";
     license = licenses.watcom;
-    platforms = [ "x86_64-linux" "i686-linux" "x86_64-darwin" "x86_64-windows" "i686-windows" ];
+    platforms = with platforms; windows ++ unix;
+    badPlatforms = platforms.riscv ++ [ "powerpc64-linux" "powerpc64le-linux" "mips64el-linux" ];
     maintainers = with maintainers; [ OPNA2608 ];
   };
 }
diff --git a/pkgs/development/compilers/open-watcom/wrapper.nix b/pkgs/development/compilers/open-watcom/wrapper.nix
index 0677d32e6ea9..95752b2c2fe4 100644
--- a/pkgs/development/compilers/open-watcom/wrapper.nix
+++ b/pkgs/development/compilers/open-watcom/wrapper.nix
@@ -13,16 +13,29 @@ let
   wrapper =
     {}:
     let
+      archToBindir = with stdenv.hostPlatform; if isx86 then
+        "bin"
+      else if isAarch then
+        "arm"
+      # we don't support running on AXP
+      # don't know what MIPS, PPC bindirs are called
+      else throw "Don't know where ${system} binaries are located!";
+
       binDirs = with stdenv.hostPlatform; if isWindows then [
-        (lib.optionalString is64bit "binnt64")
-        "binnt"
-        (lib.optionalString is32bit "binw")
-      ] else if (isDarwin && is64bit) then [
-        "bino64"
+        (lib.optionalString is64bit "${archToBindir}nt64")
+        "${archToBindir}nt"
+        (lib.optionalString is32bit "${archToBindir}w")
+      ] else if (isDarwin) then [
+        (lib.optionalString is64bit "${archToBindir}o64")
+        # modern Darwin cannot execute 32-bit code anymore
+        (lib.optionalString is32bit "${archToBindir}o")
       ] else [
-        (lib.optionalString is64bit "binl64")
-        "binl"
+        (lib.optionalString is64bit "${archToBindir}l64")
+        "${archToBindir}l"
       ];
+      # TODO
+      # This works good enough as-is, but should really only be targetPlatform-specific
+      # but we don't support targeting DOS, OS/2, 16-bit Windows etc Nixpkgs-wide so this needs extra logic
       includeDirs = with stdenv.hostPlatform; [
         "h"
       ]
@@ -71,9 +84,9 @@ let
             }
             EOF
             cat test.c
-            # Darwin target not supported, only host
             wcl386 -fe=test_c test.c
-            ${lib.optionalString (!stdenv.hostPlatform.isDarwin) "./test_c"}
+            # Only test execution if hostPlatform is targetable
+            ${lib.optionalString (!stdenv.hostPlatform.isDarwin && !stdenv.hostPlatform.isAarch) "./test_c"}
 
             cat <<EOF >test.cpp
             #include <string>
@@ -91,9 +104,9 @@ let
             }
             EOF
             cat test.cpp
-            # Darwin target not supported, only host
             wcl386 -fe=test_cpp test.cpp
-            ${lib.optionalString (!stdenv.hostPlatform.isDarwin) "./test_cpp"}
+            # Only test execution if hostPlatform is targetable
+            ${lib.optionalString (!stdenv.hostPlatform.isDarwin && !stdenv.hostPlatform.isAarch) "./test_cpp"}
             touch $out
           '';
           cross = runCommand "${name}-test-cross" { nativeBuildInputs = [ wrapped file ]; } ''