There is evidence of "Chinese Simplified Patches" (汉化补丁) that more comprehensively translate the game into Chinese. For example, some sources list a "Simplified Chinese version" that translates the game's interface and text. If you can read Chinese, this is a viable option. For English speakers, this might still be helpful if you can navigate based on the translated menus.
The game features over 16 playable Ultramen, with 14 confirmed at launch. The known roster includes: ultraman allstar chronicle psp iso english patch
If you just want to play through the story mode, unlock all Ultras, and understand the menus, this patch is perfectly usable. If you need full story translation, you’ll be disappointed. unlock all Ultras