pkg_resources.VersionConflict: (setuptools 50.3.2 (/usr/local/lib/python3.7/site-packages), Requirement.parse('setuptools==42.0.2'))

Question

pip commands are failing with

Traceback (most recent call last):
  File "/usr/local/lib/python3.7/site-packages/pkg_resources/__init__.py", line 567