I am not a data scientist, just a researcher in cog neuro. With multicollinearity, I'd first want to know whether these variables are meant to measure the same

I am not a data scientist, just a researcher in cog neuro. With multicollinearity, I'd first want to know whether these variables are meant to measure the same latent construct. If so, creating a latent factor in a SEM seems the way to go. Lassos and ridge regression I've heard of, but I know very little, except thatse methods can find use when using fmri voxel timeseries...