“modern” text entry controls... Like selecting text by going shift+leftarrow or deleting whole words by holding ctrl+backspace/del ...

Those are not really features of the terminal emulator but of the shell. I don't think a terminal emulator can coerce bash or zsh or whatever to do those things unless it acts as some kind of proxy between your text editing buffer and the shell, which would probably lead to its own set of complications. The thing you want would have to be a combination of a GUI terminal program and its own shell.

For bash, I suggest you read up on readline keyboard shortcuts, which can do many of the text editing tricks that you are asking. The shortcuts are different than what you are used to on Windows, and there's no concept of "selecting" text, but for terminal applications it's pretty much the standard way text input is handled on Linux.