diff --git a/pyinst.py b/pyinst.py
index 17c9505630..22df672c9b 100644
--- a/pyinst.py
+++ b/pyinst.py
@@ -37,7 +37,7 @@ def main():
         '--icon=devscripts/logo.ico',
         '--upx-exclude=vcruntime140.dll',
         '--noconfirm',
-        *dependency_options(),
+        '--additional-hooks-dir=yt_dlp/__pyinstaller',
         *opts,
         'yt_dlp/__main__.py',
     ]
@@ -77,30 +77,6 @@ def version_to_list(version):
     return list(map(int, version_list)) + [0] * (4 - len(version_list))
 
 
-def dependency_options():
-    # Due to the current implementation, these are auto-detected, but explicitly add them just in case
-    dependencies = [pycryptodome_module(), 'mutagen', 'brotli', 'certifi', 'websockets']
-    excluded_modules = ('youtube_dl', 'youtube_dlc', 'test', 'ytdlp_plugins', 'devscripts')
-
-    yield from (f'--hidden-import={module}' for module in dependencies)
-    yield '--collect-submodules=websockets'
-    yield from (f'--exclude-module={module}' for module in excluded_modules)
-
-
-def pycryptodome_module():
-    try:
-        import Cryptodome  # noqa: F401
-    except ImportError:
-        try:
-            import Crypto  # noqa: F401
-            print('WARNING: Using Crypto since Cryptodome is not available. '
-                  'Install with: pip install pycryptodomex', file=sys.stderr)
-            return 'Crypto'
-        except ImportError:
-            pass
-    return 'Cryptodome'
-
-
 def set_version_info(exe, version):
     if OS_NAME == 'win32':
         windows_set_version(exe, version)
diff --git a/setup.py b/setup.py
index e2520ff6fc..ccfcf42520 100644
--- a/setup.py
+++ b/setup.py
@@ -92,7 +92,10 @@ def build_params():
     params = {'data_files': data_files}
 
     if setuptools_available:
-        params['entry_points'] = {'console_scripts': ['yt-dlp = yt_dlp:main']}
+        params['entry_points'] = {
+            'console_scripts': ['yt-dlp = yt_dlp:main'],
+            'pyinstaller40': ['hook-dirs = yt_dlp.__pyinstaller:get_hook_dirs'],
+        }
     else:
         params['scripts'] = ['yt-dlp']
     return params
diff --git a/yt_dlp/__pyinstaller/__init__.py b/yt_dlp/__pyinstaller/__init__.py
new file mode 100644
index 0000000000..1c52aadf4b
--- /dev/null
+++ b/yt_dlp/__pyinstaller/__init__.py
@@ -0,0 +1,5 @@
+import os
+
+
+def get_hook_dirs():
+    return [os.path.dirname(__file__)]
diff --git a/yt_dlp/__pyinstaller/hook-yt_dlp.py b/yt_dlp/__pyinstaller/hook-yt_dlp.py
new file mode 100644
index 0000000000..66d1b63694
--- /dev/null
+++ b/yt_dlp/__pyinstaller/hook-yt_dlp.py
@@ -0,0 +1,29 @@
+import sys
+
+from PyInstaller.utils.hooks import collect_submodules
+
+
+def _pycryptodome_module():
+    try:
+        import Cryptodome  # noqa: F401
+    except ImportError:
+        try:
+            import Crypto  # noqa: F401
+            print('WARNING: Using Crypto since Cryptodome is not available. '
+                  'Install with: pip install pycryptodomex', file=sys.stderr)
+            return 'Crypto'
+        except ImportError:
+            pass
+    return 'Cryptodome'
+
+
+def _hidden_imports():
+    yield 'yt_dlp.compat._legacy'
+    for m in [_pycryptodome_module(), 'websockets']:
+        yield from collect_submodules(m)
+    # These are auto-detected, but explicitly add them just in case
+    yield from ('mutagen', 'brotli', 'certifi')
+
+
+hiddenimports = list(_hidden_imports())
+excludedimports = ['youtube_dl', 'youtube_dlc', 'test', 'ytdlp_plugins', 'devscripts']
diff --git a/yt_dlp/compat/__init__.py b/yt_dlp/compat/__init__.py
index 5cc78ebc2b..c6c02541c2 100644
--- a/yt_dlp/compat/__init__.py
+++ b/yt_dlp/compat/__init__.py
@@ -70,9 +70,3 @@ def compat_expanduser(path):
         return userhome + path[i:]
 else:
     compat_expanduser = os.path.expanduser
-
-
-# NB: Add modules that are imported dynamically here so that PyInstaller can find them
-# See https://github.com/pyinstaller/pyinstaller-hooks-contrib/issues/438
-if False:
-    from . import _legacy  # noqa: F401