[Enhancement][DevX] Easier dependency management and a virtual environment guide

[Udayraj123]

Is your feature request related to a problem? Please describe.
Currently there's no build system or a guide to run the project in a virtual environment. This can cause incoherent experience on different systems having pre-installed system packages.

Describe the solution you'd like
We should explore using poetry, pipx etc as per the latest industry standards for this python

Describe alternatives you've considered

• conda is an alternative for pipx
• Setuptools for packaging/build systems
• Other suggestions also welcome!

Additional context
One Issue faced by some users: https://stackoverflow.com/a/75722775/6242649

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