diff --git a/base/timing.jl b/base/timing.jl
index e229fbeb328e91..157fe288b9708f 100644
--- a/base/timing.jl
+++ b/base/timing.jl
@@ -164,6 +164,16 @@ function timev_print(elapsedtime, diff::GC_Diff, compile_time)
     padded_nonzero_print(diff.full_sweep,   "full collections")
 end
 
+# Like a try-finally block, except without introducing the try scope
+# NOTE: This is deprecated and should not be used from user logic. A proper solution to
+# this problem will be introduced in https://github.com/JuliaLang/julia/pull/39217
+macro __tryfinally(ex, fin)
+    Expr(:tryfinally,
+       :($(esc(ex))),
+       :($(esc(fin)))
+       )
+end
+
 """
     @time
 
@@ -207,9 +217,10 @@ macro time(ex)
         local stats = gc_num()
         local elapsedtime = time_ns()
         local compile_elapsedtime = cumulative_compile_time_ns_before()
-        local val = $(esc(ex))
-        compile_elapsedtime = cumulative_compile_time_ns_after() - compile_elapsedtime
-        elapsedtime = time_ns() - elapsedtime
+        local val = @__tryfinally($(esc(ex)),
+            (elapsedtime = time_ns() - elapsedtime;
+            compile_elapsedtime = cumulative_compile_time_ns_after() - compile_elapsedtime)
+        )
         local diff = GC_Diff(gc_num(), stats)
         time_print(elapsedtime, diff.allocd, diff.total_time, gc_alloc_count(diff), compile_elapsedtime, true)
         val
@@ -253,9 +264,10 @@ macro timev(ex)
         local stats = gc_num()
         local elapsedtime = time_ns()
         local compile_elapsedtime = cumulative_compile_time_ns_before()
-        local val = $(esc(ex))
-        compile_elapsedtime = cumulative_compile_time_ns_after() - compile_elapsedtime
-        elapsedtime = time_ns() - elapsedtime
+        local val = @__tryfinally($(esc(ex)),
+            (elapsedtime = time_ns() - elapsedtime;
+            compile_elapsedtime = cumulative_compile_time_ns_after() - compile_elapsedtime)
+        )
         local diff = GC_Diff(gc_num(), stats)
         timev_print(elapsedtime, diff, compile_elapsedtime)
         val
diff --git a/src/task.c b/src/task.c
index 52cd2dfc5bcbae..d7dda74f3ac99a 100644
--- a/src/task.c
+++ b/src/task.c
@@ -560,12 +560,6 @@ static void JL_NORETURN throw_internal(jl_task_t *ct, jl_value_t *exception JL_M
     assert(!jl_get_safe_restore());
     jl_ptls_t ptls = ct->ptls;
     ptls->io_wait = 0;
-    // @time needs its compile timer disabled on error,
-    // and cannot use a try-finally as it would break scope for assignments
-    // We blindly disable compilation time tracking here, for all running Tasks, even though
-    // it may cause some incorrect measurements. This is a known bug, and is being tracked
-    // here: https://github.com/JuliaLang/julia/pull/39138
-    jl_atomic_store_relaxed(&jl_measure_compile_time_enabled, 0);
     JL_GC_PUSH1(&exception);
     jl_gc_unsafe_enter(ptls);
     if (exception) {