First, remove any pre-installed Vim packages from your Ubuntu system to avoid conflicts:

sudo apt-get remove --purge vim vim-runtime vim-tiny vim-common

Next, clone the latest Vim source code to your home directory:

cd ~ && git clone https://github.com/vim/vim.git

Install all required build dependencies and development libraries to enable full language and feature support:

sudo apt-get install libncurses5-dev python-dev python3-dev ruby-dev liblua5.3-dev libperl-dev git

Navigate to the source build directory, clean any previous build artifacts, configure the build with your desired features, compile, and install:

cd vim/src
# Clean up old build data if you have compiled Vim here before
make distclean
./configure \
            --prefix=/usr/local \
            --with-features=huge \
            --enable-multibyte \
            --enable-cscope \
            --enable-python3interp=yes \
            --with-python3-config-dir=$(python3-config --configdir) \
            --enable-rubyinterp=yes \
            --enable-perlinterp=yes \
            --enable-luainterp=yes
make
sudo make install

Update system alternatives to set your newly compiled Vim as the default editor for both vi and editor commands:

sudo update-alternatives --install /usr/bin/editor editor /usr/local/bin/vim 1
sudo update-alternatives --set editor /usr/local/bin/vim
sudo update-alternatives --install /usr/bin/vi vi /usr/local/bin/vim 1
sudo update-alternatives --set vi /usr/local/bin/vim