Does JIRA really allow the translation of the field name but not the translation of the values ​​of the field itself? I consider this a major thing that should be fixed by the developers.

If you state that the review would be done in roughly 12 months, we should have been given an update in 2020. Now it's five years later and still there's no update from you.
As an Atlassian Solution Partner consultant I know that more and more customers asking for this functionality and even react with "seriously? why isn't that possible?"
I wouldn't say that this is a bug per se when looking at the date this suggestion was created. However, because applications around the world evolve much faster and from UX perspective though I consider it a bug now because it highly impacts end user experience. Not everyone understands English oder whatever language your custom field options are written in.
Even though you possibly get a translation when user browser built-in functionality this may be blocked by your organisation thus end-users have to work around it.

Oh and if you finally start implementing these translations don't forget to consider translated custom field names and their options when using them in advanced search. At the moment only the custom field default name is used. In basic search you can at least search by the translated custom field name and then switch to advanced search if you don't know the default value as end-user.

Any news ? 

I would also appreciate a status update. This is much needed for our setup to work.

Last update dates from April 16, 2019 with this comment: 

"This suggestion will be reviewed in about 12 months time, at which point we’ll consider whether we need to alter its status."

What is the current status please?

Dear Jira Product Owner:

I was just wondering that this is not possible and see this missing part as a bug and not feature or suggestion. Using list options is core with forms.

If a translated app to users worldwide is provide these translations are mandatory to match UX.  Otherwise users are not able to select the right entries without a dictionary aside. Example: English vs. Mandarin. 

To reenforce the arguement thinking from another perspective: I would assume that all people worldwide are able to use a system with a default language selecting values --> which would lead into "we don't need translations at all" --> which is not the case. 

BR Johannes

"Not being considere" --> I assume this will likely not change since there are several plugins that do this already..

Is there an update on this topic? It's really annoying that you can't translate custom fields. Since 2014, people would like to have this option implemented. The last update was in 2019. There must be a way to translate these fields.

What about JSM data center ? this feature won't be considered for DC ?!

Dear Jira's product owner,

   This improvement would be really helpful and appriciated by us.

Thanks.

WBR,

Evgeniy