diff --git a/packages/components/CHANGELOG.md b/packages/components/CHANGELOG.md
index dd3dce8eadf84..5ea68a20cf570 100644
--- a/packages/components/CHANGELOG.md
+++ b/packages/components/CHANGELOG.md
@@ -36,6 +36,7 @@
 -   `CustomSelectControlV2`: keep legacy arrow down behavior only for legacy wrapper. ([#62919](https://github.com/WordPress/gutenberg/pull/62919))
 -   `CustomSelectControlV2`: fix trigger button font size. ([#63131](https://github.com/WordPress/gutenberg/pull/63131))
 -   `CustomSelectControlV2`: fix labelling with a visually hidden label. ([#63137](https://github.com/WordPress/gutenberg/pull/63137))
+-   `CustomSelectControlV2`: allow checkmark wrapper to collapse when not shown. ([#63229](https://github.com/WordPress/gutenberg/pull/63229))
 -   Extract `TimeInput` component from `TimePicker` ([#60613](https://github.com/WordPress/gutenberg/pull/60613)).
 -   `TimeInput`: Add `label` prop ([#63106](https://github.com/WordPress/gutenberg/pull/63106)).
 -   Method style type signatures have been changed to function style ([#62718](https://github.com/WordPress/gutenberg/pull/62718)).
diff --git a/packages/components/src/custom-select-control-v2/styles.ts b/packages/components/src/custom-select-control-v2/styles.ts
index 22ebd6ffdf92a..21b093ac69b64 100644
--- a/packages/components/src/custom-select-control-v2/styles.ts
+++ b/packages/components/src/custom-select-control-v2/styles.ts
@@ -150,13 +150,6 @@ export const SelectItem = styled( Ariakit.SelectItem )(
 	`
 );
 
-export const SelectedItemCheck = styled( Ariakit.SelectItemCheck )`
-	display: flex;
-	align-items: center;
-	margin-inline-start: ${ space( 2 ) };
-	font-size: 24px; // Size of checkmark icon
-`;
-
 const truncateStyles = css`
 	overflow: hidden;
 	text-overflow: ellipsis;
@@ -188,3 +181,18 @@ export const WithHintItemHint = styled.span`
 	padding-inline-end: ${ space( 1 ) };
 	margin-block: ${ space( 1 ) };
 `;
+
+export const SelectedItemCheck = styled( Ariakit.SelectItemCheck )`
+	display: flex;
+	align-items: center;
+	margin-inline-start: ${ space( 2 ) };
+
+	// Since the checkmark's dimensions are applied with 'em' units, setting a
+	// font size of 0 allows the space reserved for the checkmark to collapse for
+	// items that are not selected or that don't have an associated item hint.
+	font-size: 0;
+	${ WithHintItemWrapper } ~ &,
+	&:not(:empty) {
+		font-size: 24px; // Size of checkmark icon
+	}
+`;