Prepare for a 25.3.0 release (#1448)

diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index a13f8a1..355ac68 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst

@@ -4,7 +4,7 @@
 Versions are year-based with a strict backward-compatibility policy.
 The third digit is only for regressions.
 
-25.3.0 (UNRELEASED)
+25.4.0 (UNRELEASED)
 -------------------
 
 Backward-incompatible changes:
@@ -16,6 +16,20 @@
 Changes:
 ^^^^^^^^
 
+25.3.0 (2025-09-16)
+-------------------
+
+Backward-incompatible changes:
+^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+Deprecations:
+^^^^^^^^^^^^^
+
+Changes:
+^^^^^^^^
+
+- Maximum supported ``cryptography`` version is now 46.x.
+
 
 25.2.0 (2025-09-14)
 -------------------

diff --git a/setup.py b/setup.py
index 6823b14..cc32276 100644
--- a/setup.py
+++ b/setup.py

@@ -94,7 +94,7 @@
         packages=find_packages(where="src"),
         package_dir={"": "src"},
         install_requires=[
-            "cryptography>=45.0.7,<46",
+            "cryptography>=45.0.7,<47",
             (
                 "typing-extensions>=4.9; "
                 "python_version < '3.13' and python_version >= '3.8'"

diff --git a/src/OpenSSL/version.py b/src/OpenSSL/version.py
index 898f282..c49055e 100644
--- a/src/OpenSSL/version.py
+++ b/src/OpenSSL/version.py

@@ -17,7 +17,7 @@
     "__version__",
 ]
 
-__version__ = "25.2.0"
+__version__ = "25.3.0"
 
 __title__ = "pyOpenSSL"
 __uri__ = "https://pyopenssl.org/"