Update installation files to newer format

[jacobpennington]

Describe the issue:

Switching to using a pyproject.toml file for installation has been the recommendation for at least a few years now, and starting with pip >= 25.0 (expected early 2025) some installation features will no longer be supported (like using pip install -e ... for development).

Provide environment info:

N/A

Operating system information:

N/A