Create Lightning Custom button to clone and edit the newly created record

Custom Lightning Component Approach

There is no direct out-of-the-box functionality to clone a record and immediately edit it using a Custom Button or Quick Action in Lightning Experience. The following approach uses an Aura Component to achieve this via customization.

Implementation Steps

1. Create a Lightning (Aura) Component that opens any record the agent wishes to clone. Use the force:hasRecordId interface to enable the component to receive the ID of the current record.
2. In the component controller, use force:hasRecordId to obtain the record ID and create the business logic to clone the record and apply the necessary field value changes.
3. Display the modified values in a component view, screen, or modal pop-up with Save and Cancel buttons.
4. Create a Quick Action that calls this Lightning component.

For an example of making a component context-aware, review the Trailhead: Override Standard Actions module.
Note: Consider using Lightning Web Components (LWC) for new development as Aura Components are in maintenance mode.