The dynamics of localised solitary wave solutions play an essential role in the fields of mathematical sciences such as optical physics, plasma physics, nonlinear dynamics and many others. The prime objective of this study is to obtain localised solitary wave solutions and exact closed-form solutions of the (2 + 1)-dimensional universal hierarchy equation (UHE) using the Lie symmetry approach. Besides, the Lie infinitesimals, all the vector fields, commutation relations of Lie algebra and symmetry reductions are derived via the Lie transformation method. Meanwhile, the universal hierarchy equation is reduced into nonlinear ODEs through two stages of symmetry reductions. The closed-form invariant solutions are attained under some parametric conditions imposed on infinitesimal generators. Because of the presence of arbitrary independent functional parameters and other constants, these group-invariant solutions are explicitly displayed in terms of arbitrary functions that are more relevant, beneficial and useful for explaining nonlinear complex physical phenomena. Furthermore, the dynamical structures of the obtained exact solutions are illustrated for suitable values of arbitrary constants through 3D-plots based on numerical simulation. Some of these localised solitary waves are double solitons, periodic lump solitons, dark solitons, five-solitons, hemispherical solitons and lump-type solitons.