Virtue theme - Translating Portfolio slug leads to a 404 error

Overview of the issue

When using Virtue theme with WPML, the translated single portfolio displays a 404 page instead of the expected content, even after translating the slug in String Translation.

Workaround

Be sure to make a full backup of your site before proceeding.

1. Open your theme's functions.php file
2. Add this snippet:

   add_filter( 'register_post_type_args', 'virtue_portfolio_args', 10, 2 );
    
   function virtue_portfolio_args( $args, $post_type ){
        
       if ( $post_type !== 'portfolio' ) {
           return $args;
       }
        
       $virtue_premium = virtue_premium_get_options();
       if ( ! empty( $virtue_premium['portfolio_permalink'] ) ) {
           $port_rewrite = $virtue_premium['portfolio_permalink'];
       } else {
           $port_rewrite = 'portfolio';
       }
        
       $args['has_archive'] = true;
       $args['rewrite'] = array('slug' => $port_rewrite);
        
       return $args;
   }
   

3. Go to Theme Options → Portfolio Options → Portfolio Permalink Base and set a custom post type slug.
4. Go to WPML → String Translation, search for the slug and translate it. It should be under the [virtue_premium]portfolio_permalink string name.
5. Go to WPML → Settings → Post Type Translation and translate the portfolio post type slug with the exact translation that you added for the [virtue_premium]portfolio_permalink string.
6. Go to Settings → Permalinks and save.