So I got it to work by:
1. Downloading latest Masquerade and the english patch
2. Extract Masquerade
3. Copy english Patch files to Masquerade\forge
4. Edit system_config.ini and uncomment ease_nro (remove semi-colon) line and set it to 0x1.
5. Restart the Switch
Opening video is subbed and text are partially translated. Haven't tested far.
Here's some pictures:
Noob question: Where is system_config.ini?