Inline Code Link in Sphinx + reStructuredText

In Markdown, one can create an inline code link like so

[`dict.update`](https://docs.python.org/3/library/stdtypes.html#dict.update)

Which renders like dict.update. How can get a similar behaviour in reStructuredText / Sphinx? I tried (1) using a converter but it never results in something similar (2) nesting external link `link <link>`_ and inline code block :code:`dict.update`, but that din't work either.