The new update to the upstream chart uses quay.io/argoproj/argocd-applicationset in applicationSet (new feature) and it doesn't currently exist in IB. Need to open a ticket for this with IB. In the meantime, disabling applicationSet as recommended by Micah and testing it out.
Disabled applicationSet and notifications. They are new features added in the new release. We are missing the image for applicationSet. Micah has already submitted a request with IB about that. notifications may require more configuration to deploy it properly. That should be handled separately. Disabling these two new features had no impact in testing for the other existing capabilities of Argo.