Inventor supports installation and use of multiple language packs onto a single Inventor installation. You can switch between them using the Start Menu shortcut (which uses a /language parameter).
With Inventor 2020, all language packs are installed and handled the same. The default installation path is C:\Users\Public\Documents\Autodesk\Inventor 2020\Templates\%Language%. When changing languages Inventor automatically updates the template path to use the installed templates for that language.