Selecting internationalization preferences
Move the First and second Cte to temp table.

you don't have to refer  ( SELECT InvariantLanguageCultureCode FROM y) more than once in join condition instead use it in one column then join that column with other tables.

Try this.

DECLARE @ReportingInstanceID INT

SET @ReportingInstanceID=34;

SELECT [TRCCore].[dbo].[pr_Language].InvariantLanguageCultureCode
INTO   #temp_InvariantLanguageCultureCode
FROM   [TRCCore].[dbo].[pr_Language]
       JOIN [dbo].[tenant_User_Setting]
         ON tenant_User_Setting.LanguageID = pr_Language.LanguageID
WHERE  tenant_User_Setting.UserID IN (SELECT [dbo].[tenant_Reporting_Instance].UserID
                                      FROM   [dbo].[tenant_Reporting_Instance]
                                      WHERE  tenant_Reporting_Instance.ReportingInstanceID = @ReportingInstanceID)

SELECT [dbo].[tenant_Reporting_Instance].UserID
INTO   #temp_UserID
FROM   [dbo].[tenant_Reporting_Instance]
WHERE  tenant_Reporting_Instance.ReportingInstanceID = @ReportingInstanceID

SELECT r.RoundingTypeInvariantCode,
       a.AgingDateValue,
       cur.CurrencyLabel,
       jz.JobZoneLinkTypeLabel,
       m.MatchPeriodLabel,
       pf.PayFrequencyLabel,
       pt.PayTypeLabel
FROM   dbo.tenant_User_Setting s
       JOIN TRCCore.dbo.pr_Rounding_Type r
         ON r.RoundingTypeID = s.RoundingTypeID
       JOIN dbo.tenant_Aging_Date a
         ON a.AgingDateID = s.AgingDateID
       JOIN TRCCore.dbo.translation_pr_Currency cur
         ON cur.CurrencyID = s.CurrencyID
            AND cur.LanguageCultureCode IN (SELECT InvariantLanguageCultureCode
                                            FROM   #temp_InvariantLanguageCultureCode)
       JOIN dbo.translation_tenant_Job_Zone_Link_Type jz
         ON jz.JobZoneLinkTypeID = s.JobZoneLinkTypeID