Two of the biggest competitors in the version management space are asdf and mise (pronounced MEEZ). If you are stuck, just use mise.

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Version managers allow developers to install and switch between multiple versions of programming languages and tools on a per-project basis. Mise is recommended over asdf due to its more flexible TOML-based configuration, faster performance as a Rust-compiled binary, simpler command syntax, and more predictable error handling. While asdf pioneered the category, mise offers a more modern approach with richer features and better reliability for managing development environments across multiple projects.

Just Use Mise

I switched from <code>asdf</code> to <code>mise</code> , mise also supports that migration.
Credit to the creator of asdf though, they started the open tool version management trend but it seems like mise has taken the lead, at least for now.

mise is amazing. I switched from asdf, and have been loving it.
Update: Mise is compatible with the direnvy crate!! It now lacks for nothing. Nothing at all. It is perfect.