The Ultimatums are game enders in the current builds of Midrange decks in the Standard format. The cost, however, of these unfair spells is the mana-cost and colors to cast them. To do so, the deck should be built around to withstand early aggression and also force these ultimatums to resolve through countermagic.
These midrange decks usually have these core components.
Mana ramp and fixing – the best Green card for this is Cultivate, getting the two other needed lands and colors. For non-Green-based decks, they usually have Solemn Simulacrum which is a turn slower but being an artifact creature means any deck can utilize it.
Board control – That is either spot removal spells or board wipe. It is important to minimize damage and survive early while you are still getting into the Ultimatum mana. White-based decks usually use Shatter the Sky or the new Foretell Wrath of God while Black-based have Extinction Event. They also have the efficient spot removals in Heartless Act and Eliminate.
Card Draw and Cantrip spells – Blue is the best way to execute this as they have various card draw spells starting from one mana cost. Other colors have this but with a few setbacks. An example is The Great Henge, where you need to have the biggest power of your creatures on your board. Once you get to cast it though is a huge advantage in both cards draws and buffing each creature you play. Mazemind Tome is another best example that is now an auto inclusion in most midrange decks.
Overall, the concept of the midrange decks in today’s metagame is to play the control role early on while getting to the mana to cast your best spell in the build. It might be vulnerable to counterspells that will simply deal with the Ultimatum but then when expecting those matchups, you’d have the sideboard to adjust to it