There is no substantive difference there.
The Greek in John 1:42 is (transliterating here) hermeneuetai. My Liddell-Scott Greek lexicon defines hermeneuo as “to interpret foreign tongues; to interpret, put into words, give utterance to.” Clearly there’s a range of meaning, but the first definition is to interpret foreign tongues, so “translate” in English would be perfectly appropriate.
Also, look at the other instances of that same verb in the NT.
John 9:7: “the pool of Siloam, which is interpreted (hermeneuetai) as Sent”.
Hebrews 7:2: “His name [Melchizedek] being interpreted(hermeneuomenos) “king of righteousness”.”
“Interpret” and “translate” are both perfectly acceptable renderings in English. Any way you slice it, what it means is clear. Cephas was the name in Aramaic which was then rendered Petros in Greek.
What is in [brackets] is not part of the text but is commentary.The D-R has added to the Holy Word of Elohim by removing the brackets.