You know, I can understand the people who want the game to be localized enough that it matches the feel and setting of the officially-translated games.
However, this game has us not playing as Wright, but one of his ancestors, doesn't it? You can easily just assume that Wright is of Japanese descent to at least some extent, even with the changes made by the official localization, can't you? I mean, it doesn't specifically say otherwise, as far as I can recall. This game takes place in a different historical era, so I can accept the differences. The player character is specifically Japanese, so him having a Japanese name makes sense. The lack of localization regarding his character would work well given the setting.
Doesn't the main bulk of the game take place in Europe, with Sherlock Holmes and everything? So, the side characters should be speaking how British people would. The characters in Japan, and who come from Japan, would speak how Japanese people would. What's the issue with a less-localized game when you take that into regard? They already said they're not including honorifics, which is always awkward in translated works. (Well, to be fair, they could have the main character be the only one who uses them, while everyone else uses "Mr/Ms" as a way to help show the difference in culture between Japan and Europe)
(Keep in mind, I'm trying to keep myself as in-the-dark as I can, so I'm probably wrong on a few details. I only know the most vague details about the game because I want to be able to play this blind. I accidentally spoiled several things for myself having looked up what the Danganronpa series was before starting the first game, and I've been regretting it as I play through it. It's not as much fun when you already know the killers, but not quite the method. On the bright side, I don't recall much detail from Chapter 4 onward, so I should be able to finish it relatively blind.)
They could've even said that the game was on another universe or reality, with nothing to do with the regular Ace Attorney games, so they wouldn't have to change much of the setting.
I know the team behind the AA localization is talented enough to pull it off, and I'm pretty sure it was more of a financial risk and they decided to stick to the main games.