Formatting: Configure Black and Ruff in project settings

[priitlatt]

To eliminate code-style related discussions from PR reviews it is better to have some fixed standard that has to be followed.

• Configure the project to use Black code formatting and update CI scripts accordingly.
• Replace Flake8 and isort linting checks with Ruff in CI scripts and project setup.

This PR itself does not apply the changes on codebase in order to maintain traceability of the changes.

Prerequisite for PR #328.

CI runs are expected to fail on this PR as no code changes have been applied to make Black or Ruff checks pass.