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Hi there @Roopickle,
Yes, as this is a standard PHP application, what you could do is either use the 1-Click Apache2/PHP/MySQL installation image from the DigitalOcean Marketplace:
https://marketplace.digitalocean.com/apps/lamp
Then you can install Snipe-IT as normal.
Another approach would be to follow the steps from this tutorial here but it is for Ubuntu 16.04 so it is better to stick with Ubuntu 20.04:
https://www.digitalocean.com/community/tutorials/how-to-install-snipe-it-on-ubuntu-16-04
Regards, Bobby