diff --git a/include/pybind11/detail/smart_holder_type_casters.h b/include/pybind11/detail/smart_holder_type_casters.h
index 52b37d591..5ff995003 100644
--- a/include/pybind11/detail/smart_holder_type_casters.h
+++ b/include/pybind11/detail/smart_holder_type_casters.h
@@ -400,6 +400,7 @@ struct shared_ptr_trampoline_self_life_support {
     PyObject *self;
     explicit shared_ptr_trampoline_self_life_support(instance *inst)
         : self{reinterpret_cast<PyObject *>(inst)} {
+        gil_scoped_acquire gil;
         Py_INCREF(self);
     }
     void operator()(void *) {
diff --git a/tests/test_class_sh_trampoline_shared_ptr_cpp_arg.cpp b/tests/test_class_sh_trampoline_shared_ptr_cpp_arg.cpp
index 5773f08e8..9e44927a8 100644
--- a/tests/test_class_sh_trampoline_shared_ptr_cpp_arg.cpp
+++ b/tests/test_class_sh_trampoline_shared_ptr_cpp_arg.cpp
@@ -69,6 +69,9 @@ TEST_SUBMODULE(class_sh_trampoline_shared_ptr_cpp_arg, m) {
         .def("has_python_instance", &SpBase::has_python_instance);
 
     m.def("pass_through_shd_ptr", pass_through_shd_ptr);
+    m.def("pass_through_shd_ptr_release_gil",
+          pass_through_shd_ptr,
+          py::call_guard<py::gil_scoped_release>()); // PR #4196
 
     py::classh<SpBaseTester>(m, "SpBaseTester")
         .def(py::init<>())
diff --git a/tests/test_class_sh_trampoline_shared_ptr_cpp_arg.py b/tests/test_class_sh_trampoline_shared_ptr_cpp_arg.py
index 912d22cbe..b9cde4f2c 100644
--- a/tests/test_class_sh_trampoline_shared_ptr_cpp_arg.py
+++ b/tests/test_class_sh_trampoline_shared_ptr_cpp_arg.py
@@ -132,12 +132,15 @@ def test_infinite():
         break  # Comment out for manual leak checking (use `top` command).
 
 
-def test_std_make_shared_factory():
+@pytest.mark.parametrize(
+    "pass_through_func", [m.pass_through_shd_ptr, m.pass_through_shd_ptr_release_gil]
+)
+def test_std_make_shared_factory(pass_through_func):
     class PyChild(m.SpBase):
         def __init__(self):
             super().__init__(0)
 
     obj = PyChild()
     while True:
-        assert m.pass_through_shd_ptr(obj) is obj
+        assert pass_through_func(obj) is obj
         break  # Comment out for manual leak checking (use `top` command).