I know a majority of the world has not played the game yet and therefore I might not get an answer, but I will ask anyway in the off chance someone here knows something that could help illuminate my predicament.

I am wondering if there is a feature in place that allows for subtitles only when other languages, such as Elder Speech and Nilfgardian, are spoken. I like to keep subtitles off, as they tend to distract my eye, but would still like to know what people are saying when not speaking Common Speech. Considering Geralt knows the languages, I think it would be nice to have that option.

That's a great question, I would like that option too.