fix: making pyproject formatting optional and updating the uv installation

[ak-gupta]

Description

In this PR, I've updated our dependency bounds via edgetest and modified the recent formatting functionality to make it optional.

Type of change

• Bug fix (non-breaking change which fixes an issue)
• New feature (non-breaking change which adds functionality)
• Breaking change (fix or feature that would cause existing functionality to not work as expected)
• This change requires a documentation update

Checklist:

• I have performed a self-review of my own code
• I have commented my code, particularly in hard-to-understand areas
• I have made corresponding changes to the documentation
• My changes generate no new warnings
• I have added tests that prove my fix is effective or that my feature works
• New and existing unit tests pass locally with my changes
• New and existing integration tests pass locally with my changes
• Any dependent changes have been merged and published in downstream modules