And I don't understand why you'd want a dual-ISA x86 and ARM rather than just an x86 chip. You wouldn't get whatever CPU front-end simplicity advantages there are from ARM, since your front-end would get significantly more complex and consume significantly more transistors than with a normal x86 chip. And I don't think there's a market of people who want ARM for compatibility reason; any Windows software which supports ARM also supports x86.
What they could do is to release an ARM chip with a slightly extended ISA to add the select features which are difficult to emulate in software, such as loads and stores with the memory ordering guarantees x86 provides but ARM doesn't. Apple does this AFAIK, and it's one part of why Rosetta 2 is so good. But any ARM CPU maker could do this.
Look at Apple's Rosetta 2 for an example. M-series Apple Silicon has special undocumented modes that mirror x86 architectural quirks that don't usually exist in ARM, in order to support AOT-translated machine code. The chip doesn't support x86 instructions, but it has the amenities to support x86 code. That could be what "native x86 translation" meant?
https://threedots.ovh/blog/2021/02/cpus-with-sequential-cons...
I’m not saying I want this, but it might be surprisingly not totally impractical.
Intel's unique position with x86 IP could make this feasible where others can't, but whether the engineering effort is worth it for what might be a short-term market advantage is debatable.