Running Xcode 12.3 here and I get the expected output as long as a valid Localizable.strings file is present with the correct translations. That is:
"com.hello" = "Hola";
"com.world" = "Mundo";
produces:
Hola
Mundo
Hola
Mundo
Maybe it was just a bug in Xcode? Since you are writing out all your strings anyway, it may be easier to use LocalizedStringKey() rather than NSLocalizedString() and add the strings to the Localizable.strings file instead of an enum.
Babble-on App Localization