The YouTube TOS don't say anything about this, the developer TOS and specifically the developer policies and minimum required functionality do though. The latter of which says:
You must not display overlays, frames, or other visual elements in front of any part of a YouTube embedded player, including player controls. Similarly, you must not use overlays, ...
"I am not sure if this violates the guideline above. Does anyone know?"
Not quite sure if it does.
As an alternative though, why don't you just add your translations as captions and ease your mind?
From the Google support website:
Clear “Not interested” and “Don’t recommend channel” feedback:
Your “Not Interested” and “Don’t recommend channel” feedback may be used to tune your recommendations. To clear all “Not interested” and “Don’t recommend channel” feedback:
Go to MyActivity.google.com You might need to sign in to your Google Account.
In the left ...
Google recently added a way to see all videos you liked and disliked, including time and date when you did it.
While logged in to your Google account, go to Other Google activity page, then search for "YouTube likes and dislikes" page.
If no likes/dislikes are shown on that page, you may have more than one YouTube account. Click your profile icon ...
I made a simple script to run in console to add all the videos in a playlist into your watch later list.
Also you can watch this video to learn how to run this code.
const videos = document.querySelectorAll('.page-container:not([hidden]) ytm-playlist-video-renderer.item')
const totalVideos = videos.length
const intervalSecond = 0.5
const totalSeconds = ((...