diff --git a/psalm-baseline.xml b/psalm-baseline.xml
index 9d4f275e4..61f8d7679 100644
--- a/psalm-baseline.xml
+++ b/psalm-baseline.xml
@@ -568,8 +568,6 @@
   <file src="src/Psalm/Type/Reconciler.php">
     <PossiblyUndefinedIntArrayOffset>
       <code>$const_name</code>
-      <code>$type[0]</code>
-      <code>$type[0][0]</code>
     </PossiblyUndefinedIntArrayOffset>
   </file>
   <file src="src/Psalm/Type/TypeNode.php">
diff --git a/src/Psalm/Config.php b/src/Psalm/Config.php
index cca108354..4ed538975 100644
--- a/src/Psalm/Config.php
+++ b/src/Psalm/Config.php
@@ -2238,6 +2238,10 @@ class Config
             $stubsDir . 'SPL.phpstub',
         ];
 
+        if ($codebase->analysis_php_version_id >= 7_04_00) {
+            $this->internal_stubs[] = $stubsDir . 'Php74.phpstub';
+        }
+
         if ($codebase->analysis_php_version_id >= 8_00_00) {
             $this->internal_stubs[] = $stubsDir . 'CoreGenericAttributes.phpstub';
             $this->internal_stubs[] = $stubsDir . 'Php80.phpstub';
diff --git a/src/Psalm/Internal/Analyzer/ProjectAnalyzer.php b/src/Psalm/Internal/Analyzer/ProjectAnalyzer.php
index a418a52bc..6be055ea4 100644
--- a/src/Psalm/Internal/Analyzer/ProjectAnalyzer.php
+++ b/src/Psalm/Internal/Analyzer/ProjectAnalyzer.php
@@ -200,6 +200,10 @@ class ProjectAnalyzer
         UnnecessaryVarAnnotation::class,
     ];
 
+    private const PHP_VERSION_REGEX = '^(0|[1-9]\d*)\.(0|[1-9]\d*)(?:\..*)?$';
+
+    private const PHP_SUPPORTED_VERSIONS_REGEX = '^(5\.[456]|7\.[01234]|8\.[0123])(\..*)?$';
+
     /**
      * @param array<ReportOptions> $generated_report_options
      */
@@ -1179,8 +1183,16 @@ class ProjectAnalyzer
      */
     public function setPhpVersion(string $version, string $source): void
     {
-        if (!preg_match('/^(5\.[456]|7\.[01234]|8\.[012])(\..*)?$/', $version)) {
-            throw new UnexpectedValueException('Expecting a version number in the format x.y');
+        if (!preg_match('/' . self::PHP_VERSION_REGEX . '/', $version)) {
+            throw new UnexpectedValueException('Expecting a version number in the format x.y or x.y.z');
+        }
+
+        if (!preg_match('/' . self::PHP_SUPPORTED_VERSIONS_REGEX . '/', $version)) {
+            throw new UnexpectedValueException(
+                'Psalm supports PHP version ">=5.4". The specified version '
+                . $version
+                . " is either not supported or doesn't exist.",
+            );
         }
 
         [$php_major_version, $php_minor_version] = explode('.', $version);
diff --git a/src/Psalm/Internal/CliUtils.php b/src/Psalm/Internal/CliUtils.php
index 1e5a1abdd..86f6b3261 100644
--- a/src/Psalm/Internal/CliUtils.php
+++ b/src/Psalm/Internal/CliUtils.php
@@ -12,6 +12,7 @@ use Psalm\Exception\ConfigNotFoundException;
 use Psalm\Internal\Analyzer\ProjectAnalyzer;
 use Psalm\Report;
 use RuntimeException;
+use UnexpectedValueException;
 
 use function array_filter;
 use function array_key_exists;
@@ -485,7 +486,15 @@ final class CliUtils
         }
 
         if ($version !== null && $source !== null) {
-            $project_analyzer->setPhpVersion($version, $source);
+            try {
+                $project_analyzer->setPhpVersion($version, $source);
+            } catch (UnexpectedValueException $e) {
+                fwrite(
+                    STDERR,
+                    $e->getMessage() . PHP_EOL,
+                );
+                exit(2);
+            }
         }
     }
 
diff --git a/src/Psalm/Type/Reconciler.php b/src/Psalm/Type/Reconciler.php
index 76bfb230d..4f93c7979 100644
--- a/src/Psalm/Type/Reconciler.php
+++ b/src/Psalm/Type/Reconciler.php
@@ -423,6 +423,10 @@ class Reconciler
     {
         foreach ($new_types as $nk => $type) {
             if (strpos($nk, '[') || strpos($nk, '->')) {
+                $type = array_values($type);
+                if (!isset($type[0][0])) {
+                    continue;
+                }
                 if ($type[0][0] instanceof IsEqualIsset
                     || $type[0][0] instanceof IsIsset
                     || $type[0][0] instanceof NonEmpty
diff --git a/stubs/Php74.phpstub b/stubs/Php74.phpstub
new file mode 100644
index 000000000..4ade3a6da
--- /dev/null
+++ b/stubs/Php74.phpstub
@@ -0,0 +1,11 @@
+<?php
+
+/**
+ * @psalm-pure
+ *
+ * @psalm-taint-escape html
+ * @psalm-flow ($string) -> return
+ *
+ * @param null|string|array<array-key,string> $allowed_tags
+ */
+function strip_tags(string $string, null|string|array $allowed_tags = null) : string {}