Try:
M-Code
let
Source = Excel.CurrentWorkbook(){[Name="Table20"]}[Content],
#"Changed Type" = Table.TransformColumnTypes(Source,
{{"Country", type text}, {"Year", Int64.Type}, {"Month No", Int64.Type}}),
//Country List
countries = List.Distinct(Table.Column(#"Changed Type","Country")),
//Calculate full date
#"Added Custom" = Table.AddColumn(#"Changed Type", "fullDate", each #date([Year],[Month No],1),type date),
//determine latest month flag by country
#"Grouped Rows" = Table.Group(#"Added Custom", {"Country"}, {{"grouped",
each _, type table [Country=nullable text, Year=nullable number, Month No=nullable number, fullDate=date]},
{"latest fullDate", each List.Max([fullDate]), type date}}),
#"Expanded grouped" = Table.ExpandTableColumn(#"Grouped Rows", "grouped", {"Year", "Month No", "fullDate"}, {"Year", "Month No", "fullDate"}),
#"Added Custom1" = Table.AddColumn(#"Expanded grouped", "Latest Month Flag", each if [latest fullDate] = [fullDate] then 1 else 0),
#"Removed Columns" = Table.RemoveColumns(#"Added Custom1",{"latest fullDate"}),
//Determine latest month flag for ALL countries
#"Grouped Rows1" = Table.Group(#"Removed Columns", {"fullDate"}, {{"Grouped", each _, type table [Country=nullable text, Year=nullable number, Month No=nullable number, fullDate=nullable date, Latest Month Flag=number]}}),
#"Added Custom2" = Table.AddColumn(#"Grouped Rows1", "Latest month ALL countries", each List.Count(
List.RemoveMatchingItems(countries, Table.Column([Grouped],"Country"))) = 0),
#"Grouped Rows2" = Table.Group(#"Added Custom2", {"Latest month ALL countries"}, {{"Grouped", each _, type table [fullDate=nullable date, Grouped=table, Latest month ALL countries=logical]}, {"maxAll", each List.Max([fullDate]), type nullable date}}),
#"Expanded Grouped" = Table.ExpandTableColumn(#"Grouped Rows2", "Grouped", {"fullDate", "Grouped"}, {"fullDate", "Grouped.1"}),
#"Added Custom3" = Table.AddColumn(#"Expanded Grouped", "Latest month ALL countries Flag", each if [maxAll] = [fullDate] and
[Latest month ALL countries] = true
then 1 else 0),
#"Expanded Grouped.1" = Table.ExpandTableColumn(#"Added Custom3", "Grouped.1", {"Country", "Year", "Month No", "fullDate", "Latest Month Flag"}, {"Country", "Year", "Month No", "fullDate.1", "Latest Month Flag"}),
#"Removed Columns1" = Table.RemoveColumns(#"Expanded Grouped.1",{"Latest month ALL countries", "fullDate", "fullDate.1", "maxAll"}),
#"Sorted Rows" = Table.Sort(#"Removed Columns1",{{"Country", Order.Descending}, {"Year", Order.Ascending}, {"Month No", Order.Ascending}})
in
#"Sorted Rows"
Original Data

Results

*Note: If there are no common dates in one of the countries, there will be no flag in the ALL countries column
Latest month available all the country Flag? Else what is the logic for Aus when11/2020is not available in other countries - Ron Rosenfeld