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+## Changes by Kind
+
+### Bug or Regression
+
+- Fixed a bug where tags applied by Azure Policy were keeping CAPZ from reconciling ASO ResourceGroups and ManagedClusters ([#4540](https://github.com/kubernetes-sigs/cluster-api-provider-azure/pull/4540), [@nojnhuh](https://github.com/nojnhuh))
+
+## Dependencies
+
+### Added
+_Nothing has changed._
+
+### Changed
+_Nothing has changed._
+
+### Removed
+_Nothing has changed._