Glad to hear you have managed to Edit the homepage in different languages.
1. After translating your site pages, please make sure to translate the menu into secondary language from Appearance >> Menu page and then it will display the correct language pages links in the menu.
2. Yes, WPML translations in Slovenian help with SEO. By translating your content, you make it accessible to Slovenian-speaking users, improving your site’s visibility in Slovenian search results. WPML also uses language-specific URLs and hreflang tags, which further boost your SEO in Slovenia.
when reading it it says i have to go to WPML → Translation Management and use the Type dropdown menu to choose Navigation Menu. Unfortunately in the WPML i do not have translation management (photo translation management). What shoul i do?
Sorry for the delay, I was off due to our national holiday. Thanks for the additional details. In that case you will need to upgrade your licence to Multilingual CMS or Multilingual Agency to access all features of WPML: https://wpml.org/purchase/
You can always upgrade from a lower-cost account type to a more complete one by paying the difference.