This thread is resolved. Here is a description of the problem and solution.
Problem:
The translated slide show in all languages instead of just on relevant language.
Solution:
I'm able to fix this issue by following the below steps:
1. Went to WPML >> Settings > Taxonomies Translation section, Set the Sliders (woodmart_slider) as translatable
2. Re-saved the slides in all languages.
3. Re-saved the home page in all languages and now it shows one slide in each language correctly.
Relevant Documentation:
https://wpml.org/documentation/theme-compatibility/create-multilingual-websites-using-woodmart-theme-and-wpml/#translating-sliders
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