You can know the latest wine version number from the projects homepage:
https://www.winehq.org/.
The version number of wine installed from your system repositories can be obtained by following command:
wine --version
Most likely it is much less than the version released on it's homepage. That is why you should be
encouraged to install the latest version from wine's repositories. Here is how
to do it:
sudo dpkg --add-architecture i386
sudo add-apt-repository 'https://dl.winehq.org/wine-builds/ubuntu/'
sudo wget https://dl.winehq.org/wine-builds/Release.key && sudo apt-key add Release.key
sudo rm -f Release.key
sudo apt update
sudo apt install --install-recommends wine-staging
The latest stable wine version will be placed in following directory: /opt/wine-staging/bin/. From now you can upgrade wine as easy as running commands apt update and apt upgrade.
If you want to run the older version from some reason, then simply run:
wine setup.exe
But if you want to run the newest version, then specify wine's home folder and it's full path:
env WINEPREFIX=~/.latest-wine32 WINEARCH=win32 /opt/wine-staging/bin/wine setup.exe