diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index 146c7b2f2..f7895fdaa 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -1,7 +1,7 @@
 Changelog
 =========
 
-1.5.1a2 (2024-07-17)
+1.5.1a3 (2024-07-17)
 --------------------
 
 Bug fixes
diff --git a/cosmos/__init__.py b/cosmos/__init__.py
index 611b99b5b..249eaf006 100644
--- a/cosmos/__init__.py
+++ b/cosmos/__init__.py
@@ -5,7 +5,7 @@
 
 Contains dags, task groups, and operators.
 """
-__version__ = "1.5.1a2"
+__version__ = "1.5.1a3"
 
 from cosmos.airflow.dag import DbtDag
 from cosmos.airflow.task_group import DbtTaskGroup
diff --git a/cosmos/cache.py b/cosmos/cache.py
index 1e83e739b..eacef8727 100644
--- a/cosmos/cache.py
+++ b/cosmos/cache.py
@@ -230,9 +230,12 @@ def _create_folder_version_hash(dir_path: Path) -> str:
         filepaths.extend(paths)
 
     for filepath in sorted(filepaths):
-        with open(str(filepath), "rb") as fp:
-            buf = fp.read()
-            hasher.update(buf)
+        try:
+            with open(str(filepath), "rb") as fp:
+                buf = fp.read()
+                hasher.update(buf)
+        except FileNotFoundError:
+            logger.debug(f"Skipping invalid path {filepath}")
 
     return hasher.hexdigest()