This shortcut is a completely re-worked variation of the "Translate Conversation" version 2.0 by Ofer LaOr (the original link not located) utilizing iOS Dictation but, with the dictation actions omitted, now text-based. In the current form, its user interaction is a significant improvement over the previous version allowing for setting any pair of languages, swapping, restoring to defaults (the default is English-to-German).

Warning. As of today, not all languages (such as Latin) are supported by the Microsoft translation service.