diff --git a/requirements/requirements-codestyle.txt b/requirements/requirements-codestyle.txt
index d9efde1d0..434fc41af 100644
--- a/requirements/requirements-codestyle.txt
+++ b/requirements/requirements-codestyle.txt
@@ -4,4 +4,4 @@ flake8-tidy-imports==4.1.0
 pycodestyle==2.5.0
 
 # Sort and lint imports
-isort==4.3.21
+isort==5.4.2
diff --git a/rest_framework/compat.py b/rest_framework/compat.py
index 611068a62..4bae7729f 100644
--- a/rest_framework/compat.py
+++ b/rest_framework/compat.py
@@ -96,8 +96,8 @@ except ImportError:
 
 try:
     import pygments
-    from pygments.lexers import get_lexer_by_name, TextLexer
     from pygments.formatters import HtmlFormatter
+    from pygments.lexers import TextLexer, get_lexer_by_name
 
     def pygments_highlight(text, lang, style):
         lexer = get_lexer_by_name(lang, stripall=False)
@@ -121,9 +121,10 @@ if markdown is not None and pygments is not None:
     # starting from this blogpost and modified to support current markdown extensions API
     # https://zerokspot.com/weblog/2008/06/18/syntax-highlighting-in-markdown-with-pygments/
 
-    from markdown.preprocessors import Preprocessor
     import re
 
+    from markdown.preprocessors import Preprocessor
+
     class CodeBlockPreprocessor(Preprocessor):
         pattern = re.compile(
             r'^\s*``` *([^\n]+)\n(.+?)^\s*```', re.M | re.S)
diff --git a/runtests.py b/runtests.py
index 19513cdbf..82028ea32 100755
--- a/runtests.py
+++ b/runtests.py
@@ -11,7 +11,7 @@ PYTEST_ARGS = {
 
 FLAKE8_ARGS = ['rest_framework', 'tests']
 
-ISORT_ARGS = ['--recursive', '--check-only', '--diff', 'rest_framework', 'tests']
+ISORT_ARGS = ['--check-only', '--diff', 'rest_framework', 'tests']
 
 
 def exit_on_failure(ret, message=None):
diff --git a/setup.cfg b/setup.cfg
index 81da18b1c..abb7cca90 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -13,7 +13,7 @@ banned-modules = json = use from rest_framework.utils import json!
 skip=.tox
 atomic=true
 multi_line_output=5
-known_standard_library=types
+extra_standard_library=types
 known_third_party=pytest,_pytest,django,pytz,uritemplate
 known_first_party=rest_framework,tests