First of all thank you all for your replies!
I've made big progress last few days...
I've read a lot of other posts trying to do a better diagnosis and understand what could make the drive hangs.
I've understood that at least some SA modules have been read because the drive showed his serial so my question was: "what is the next step the drive make after reading SA?" I've found that the "Translation table" is loaded after reading SA modules then I tried to Recalculate Translators:
http://utils.ruggero.ws/WD10TMVW/Recalc ... or-001.pnghttp://utils.ruggero.ws/WD10TMVW/Recalc ... or-002.pngAfter having recalculated translators the drive become ready and showed more information on "Identify".
At this point I've rebooted and for the first time the disk was seen from the Bios and also from the OS

Obviously I could see only the encrypted data but I've suddenly started to make a copy with ddrescue.
I was not so lucky with ddrescue, first I had problem one wire of the SATA bypass and I needed to solder it again, than with no errors the copy became slower and slower... After 417GB the linux kernel told me that the SATA channel was unresponsive and the disk stopped working at all !

May be the board was already dying and after a while died at all!?!
I've tried to remove and make again the SATA bypass but the board is actually not responding on SATA either when it's detached from the disk, so I'm almost sure it’s gone! On WDR the status register says: BSY and WFT.
Not too bad, there's a new board on the way, and I've got a copy of the ROM so I should be able to fix.
I think I'll need to have the external ROM programmer because I don't think that I could program the ROM via USB with free tools and I would like to avoid make SATA bypass on the new board.
I'll need also to copy the U8 with the decrypting algorithm/key because the board revision is not exactly the same.
The better happened when I've connected the new disk with the partial copy to the USB bridge of patient board and I've seen the complete content of the drive

Of course all the files that are not on the first 417GB part of the disk are garbage, but It's a beautiful beginning!
I'll write again when I'll have the new board and the programmer.
Thank you for your assistance
Best Regards
Paolo
P.S.
@microsoftengineer: I cannot understand of what "terminal output (Rx-Tx)" are you referring to... I guess SATA for U12 but I don't think that it's possible to read U8 using SATA... may be you're referring to USB? Of course I've removed C90-C93 capacitors