If you are using Arch with the chaotic AUR you can use the setup_dev.sh script.
Else you can do the following:
Install Python 3.10, Python 3.10 venv, Redis, nodejs 14 and yarn.
Create a virtual environment named .venv in the root directory with Python 3.10.
Use the virtual env.
Install poetry via pip install poetry.
Configure poetry with:
poetry config virtualenvs.create true
poetry config virtualenvs.in-project true
Install the dependences: poetry install
Install pre-commit hooks: pre-commit install
Install JavaScript dependencies with yarn in the react subfolder.