Thank you for the helpful information! So it seems LibRaw can be installed on an RPi - this is great!

Just to clarify, in the case where both options are available (apt install or compiling), is there a reason why I would choose one over the other (e.g. will the compiling option give me a newer version)?

Additionally, re. compiling, I found these instructions on rawpy's website (a package I'm hoping to use), which look similar to the instructions you provided above, but there are some differences - will either set of instructions work?

git clone https://github.com/LibRaw/LibRaw.git libraw
git clone https://github.com/LibRaw/LibRaw-cmake.git libraw-cmake
cd libraw
git checkout 0.20.0
cp -R ../libraw-cmake/* .
cmake .
sudo make install