diff --git a/wp-includes/class-wp-taxonomy.php b/wp-includes/class-wp-taxonomy.php
index 716da8d384..24cc10187e 100644
--- a/wp-includes/class-wp-taxonomy.php
+++ b/wp-includes/class-wp-taxonomy.php
@@ -30,12 +30,17 @@ final class WP_Taxonomy {
 	public $label;
 
 	/**
-	 * An array of labels for this taxonomy.
+	 * Labels object for this taxonomy.
+	 *
+	 * If not set, tag labels are inherited for non-hierarchical types
+	 * and category labels for hierarchical ones.
+	 *
+	 * @see get_taxonomy_labels()
 	 *
 	 * @since 4.7.0
 	 * @var object
 	 */
-	public $labels = array();
+	public $labels;
 
 	/**
 	 * A short descriptive summary of what the taxonomy is for.
diff --git a/wp-includes/version.php b/wp-includes/version.php
index eb98129650..8cd4db7e92 100644
--- a/wp-includes/version.php
+++ b/wp-includes/version.php
@@ -13,7 +13,7 @@
  *
  * @global string $wp_version
  */
-$wp_version = '5.4-alpha-46742';
+$wp_version = '5.4-alpha-46743';
 
 /**
  * Holds the WordPress DB revision, increments when changes are made to the WordPress DB schema.