This may be known, but I can't find the expected behavior in Content_translation/Templates, because it says that page is obsolete; in the link to Content translation/V2, I couldn't find the answer about the current expected behavior. I do see that "Better support for References and Templates" is a desired feature on the Roadmap. Please accept my apologies, if I'm missing something.
When I click in the blank space on the right pane (translation), the infobox from the left pane (the original) doesn't show up - not in original, or translated, or any version.
Example: Tableau_Software; trying to translate to Bulgarian. When I click the translation pane straight to the right of the Infobox, nothing shows up; if I copy the Infobox from the original, and parte it into the translation space, it just shows "Шаблон:Infobox company" in red font, as though that template doesn't exist in the Bulgarian version. It should exist: Template:Infobox company's linked counter-part in Bulgarian is Шаблон:Компания.
I'm on Firefox 96.0 (32-bit) on Windows.