External links (e.g. to https:/google.com) need to be translated manually (if at all), and you can search for such links in the ATE editor to translate them.
But internal links can be automatically updated by WPML to point to the translated content.
Just go to WPML > Settings > Translate Link Targets and run the scan.
(See the screenshot.)
When there is new content with links that need updating you should see a small info box at the top of the WPML > Settings page.