React form update state based on props for v16.13 - reactjs

Question

I am new to React and I try to learn it from the recent official documentation where 'componentWillReceiveProps' no longer in lifecycle.
I have a Children component for NEW Product to post :
import React, { Component } from "react";
export default class NewProduct extends Component {
state = {
title : "",
price : 0
}
handleChange =(e)=>{
this.setState({ [e.target.name]: e.target.value });
}
handleSubmit =()=>{
let formData = {
title : this.state.title,
price : this.state.price
}
console.log(formData)
// axios here with formData
}
render() {
return (
<div>
<input type="text" name="title" value={this.state.title}
onChange={this.handleChange}
/>
<input type="text" name="price" value={this.state.price}
onChange={this.handleChange}
/>
<button onClick={this.handleSubmit}>Submit</button>
</div>
)
}
}
This works OK for creating product on database.
And For EDIT Product, the Parent component load data from database using axios and pass it as props to EditProduct Children. <EditProduct productData={this.state.productData} />
Edit form :
import React, { Component } from "react";
export default class EditProduct extends Component {
state = {
title : "",
price : 0
}
handleChange =(e)=>{
// how to handle change........???
}
handleSubmit =()=>{
let formData = {
title : this.state.title,
price : this.state.price
}
console.log(formData)
// axios here with formData
}
render() {
const data = this.props.productData;
return (
<div>
<input type="text" name="title" value={data.title || ""}
onChange={this.handleChange}
/>
<input type="text" name="price" value={data.price || ""}
onChange={this.handleChange}
/>
<button onClick={this.handleSubmit}>Submit</button>
</div>
)
}
}
My problem is I can not change the state by using handleChange since the value on each inputs no more refer to state.
I have tried to solve this problem by using componentWillReceiveProps and change the states by setState. But this method is no more mentioned inside lifecycle, so I need other solution.
Other solution I have tried was using context API where parent store data to state and my EditProduct component consume and modify that states.
My question is : What is the best valid ways to replace componentWillReceiveProps?
Note : Please do not suggest Redux.