colloquial translation
A translation that renders a text into everyday spoken language, often contrasted with a literal or classical translation. Commonly used for modern Japanese versions of classical literature.
この古典の口語訳を読めば、内容がよくわかる。
If you read the colloquial translation of this classic, you'll understand the content well.
現代語訳 specifically means rendering a classical text into contemporary Japanese, while 口語訳 more broadly means rendering formal or archaic language into colloquial speech, which may or may not be 'modern'.
Compound of 口語 (colloquial language) and 訳 (translation).