Computer Configuration > Administrative Templates > Google Chrome - Default Settings (users can override)
Both
HKLM\Software\Policies\Google\Chrome\Recommended
Setting the policy to True provides translation functionality when it's appropriate for users by showing an integrated translate toolbar in Google Chrome and a translate option on the right-click context menu. Setting the policy to False shuts off all built-in translate features. If you set the policy, users can't change this function. Leaving it unset lets them change the setting.