Using the get_file_data() function. More efficient than using get_plugin_data() function.
$plugin_data = get_file_data( WP_PLUGIN_DIR . '/plugin-folder-name-in-wp-content-plugins-folder/plugin-main-file.php', array( 'Version' => 'Version' ) );
$plugin_data[‘Version’] will have the version.
To read version from within the same plugin:
$plugin_data = get_file_data( __FILE__, array( 'Version' => 'Version' ) );
Refer: https://wordpress.stackexchange.com/a/285644/90061
Pro tip: Use version_compare() PHP function to compare versions.
Very helpful article. Thanks for this valuable article.