Consider writing about aliens, in an alien setting. Not “costume” aliens mind you, but imaginative different beings in fundamental ways. Calling it “Bill” is campy. Making up some noise and trying to spell it in English is not right if the kinds of sounds they make are quite different than human language, or they don’t use sound at all! Using glyphs that the reader will be totally unfamiliar with can be interesting and even inspiring in a vignette or short work with a small number of such alien words, but would be difficult to keep straight for a longer work and might frustrate some readers who process language verbally even when reading/writing.
Using Native American style names or translating the name to a literal meaning imposes this facet of culture onto the aliens which might not be what you want (and why would all alien cultures work that way?) and runs into problems as things in the natural world they are named after are themselves alien! That is, Fat Bear is as bad as Bob since they don’t have bears but have «untranslated». For names that are not formed this way, think about our own: what does Paul or John mean literally, to translate as a word? Few of us know where the words came from and they’re only used as names now. Translating Paul from Latin to English as humble or small doesn’t keep the flavor of a dedicated name word.
So what can you do when writing about aliens?
Example: I got to thinking of this issue after writing the vignette at the end of this post. The aliens are not interacting with humans. Rather, the story is set in an alien society. Think about the middle part of The Gods Themselves, or the Orthogonal universe.