diff --git a/samples/boards/stm32/power_mgmt/stop3/prj.conf b/samples/boards/stm32/power_mgmt/stop3/prj.conf
index fa60e82b4f0..6888f24a03f 100644
--- a/samples/boards/stm32/power_mgmt/stop3/prj.conf
+++ b/samples/boards/stm32/power_mgmt/stop3/prj.conf
@@ -1,5 +1,5 @@
 CONFIG_PM=y
 CONFIG_PM_DEVICE=y
 CONFIG_PM_DEVICE_RUNTIME=y
-CONFIG_PM_DEVICE_RUNTIME_EXCLUSIVE=n
+CONFIG_PM_DEVICE_SYSTEM_MANAGED=y
 CONFIG_ASSERT=y
diff --git a/soc/renesas/smartbond/da1469x/Kconfig.defconfig b/soc/renesas/smartbond/da1469x/Kconfig.defconfig
index aff118b2f20..23735aae1f4 100644
--- a/soc/renesas/smartbond/da1469x/Kconfig.defconfig
+++ b/soc/renesas/smartbond/da1469x/Kconfig.defconfig
@@ -45,7 +45,7 @@ config PM_DEVICE
 config REGULATOR
 	default y
 
-config PM_DEVICE_RUNTIME_EXCLUSIVE
-	default n if PM_DEVICE_RUNTIME
+config PM_DEVICE_SYSTEM_MANAGED
+	default y if PM_DEVICE_RUNTIME
 
 endif # SOC_SERIES_DA1469X
diff --git a/tests/lib/cpp/cxx/prj.conf b/tests/lib/cpp/cxx/prj.conf
index 22fcfc3b59a..95f44589fc2 100644
--- a/tests/lib/cpp/cxx/prj.conf
+++ b/tests/lib/cpp/cxx/prj.conf
@@ -22,5 +22,4 @@ CONFIG_PM=y
 CONFIG_PM_DEVICE=y
 CONFIG_PM_DEVICE_RUNTIME=y
 CONFIG_DEVICE_DT_METADATA=y
-# Deprecated but on by default! Silence the warning:
-CONFIG_PM_DEVICE_RUNTIME_EXCLUSIVE=n
+CONFIG_PM_DEVICE_SYSTEM_MANAGED=y