1. Install composer.
2. Install node. If you do so via nvm, you'll get the expected version installed when you do nvm install.
3. Install the dependencies: npm install && composer install
4. Build the plugin: npm run build

If you aren't using your own, you can use the built-in wp-env development environment:

npm run wp-env start

To ensure that your IDE has the WordPress core files for indexing, you can also create wp-core and wp-tests-phpunit symlinks:

npm run symlink-wp-env-install-paths