Fall 2022 despite partnering with fan translators who translated the whole game? I don't understand how those localization companies work. Original Sin 2 script had over 1 mln words and Larian released it in 11 languages including Chinese (Traditional, Simplified) and Korean, and then added Japanese translation in a free patch within a year of launch. They also charged $45 for their full game game and not $60 + a ton of cosmetic DLC. As much as I enjoy quite a few Japanese games, everything around them always seems fishy as hell.
If it's the Kai versions there's still new stuff to translate I think and they'll want to do an editing pass over the translation as well. And then I imagine also porting? (It's a bit weird since Zero and Azure have different versions on different platforms from different publishers. No idea if they can or want to use them, so they might need to port Kai to PC or back-port the Kai additions to the original PC version or I dunno)
And then they're also working on Reverie and Nayuta, and probably some other games.
I don't really mind, it's already been almost 3 years since I played the last Trails game, doesn't really matter if I wait another year and some months. And then I have basically 5 Trails game to play back-to-back + Nayuta
I don't really know how this compares to your Original Sin 2 example, but the Trails games have
massive script sizes and are extremely connected. I imagine a single game of them has an equal or higher word count than Original Sin 2. The last official number i can find is Trails in the Sky SC with 716k words, and every game after (except 3rd maybe) has been bigger than that.
And when translating one you'll have half a dozen other games in the series that are comparable in script size where you need to make sure terminology, characters, etc stay consistent.
And since Falcom is a backwards company, they don't allow western publishers to even start localizing before the game is out, which is the biggest reason why these games take so long (ignoring Zero and Azure, since those are special circumstances).