```diff
--- test_files/377-original.txt	2025-03-07 19:06:51
+++ test_files/377-modified.txt	2025-03-07 19:06:51
@@ -1,28 +1,51 @@
 """Composio version helpers."""
 
+import os
+import threading
+
 import requests
 import rich
 from semver import VersionInfo
 
 
+COMPOSIO_PYPI_METADATA = "https://pypi.org/pypi/composio-core/json"
+
+_latest_version = None
+
+
+def _fetch_latest_version():
+    global _latest_version
+    try:
+        request = requests.get(COMPOSIO_PYPI_METADATA, timeout=10.0)
+        if request.status_code != 200:
+            return
+
+        data = request.json()
+        _latest_version = data["info"]["version"]
+    except Exception:  # pylint: disable=broad-except
+        pass
+
+
 def create_latest_version_warning_hook(version: str):
+    if os.environ.get("COMPOSIO_DISABLE_VERSION_CHECK", "false").lower() != "false":
+        return lambda: None
+
+    version_thread = threading.Thread(target=_fetch_latest_version, daemon=True)
+    version_thread.start()
+
     def latest_version_warning() -> None:
         try:
-            request = requests.get(
-                "https://pypi.org/pypi/composio-core/json",
-                timeout=10.0,
-            )
-            if request.status_code != 200:
+            version_thread.join(timeout=0.1)
+            if _latest_version is None:
                 return
 
-            data = request.json()
-
             current_version = VersionInfo.parse(version)
-            latest_version = VersionInfo.parse(data["info"]["version"])
+            latest_version = VersionInfo.parse(_latest_version)
 
-            if current_version < latest_version:
+            # TODO: Change this to `major` after
+            if current_version.minor < latest_version.minor:
                 rich.print(
-                    "\n[yellow]* A new version of composio is available, "
+                    "\n[yellow]* A new major version of composio is available, "
                     f"run `pip install composio-core=={latest_version}` "
                     "to update.[/yellow]"
                 )
```
