1. All InDesign versions
2. Create a URL that includes Text Variable instance
3. URL looks and prints correctly,
4. but hyperlink is wrong: there are no text variables values in it.

It is obvious that URLs are convenient to generate from text variables. Especially if there are thousands of them!
This would be a phenomenal solution not only to our problem, but...

Instead of substituting the values ​​of text variable instances, nothing is replaced (empty strings instead of text variable instances), and the hyperlink (which looks and prints correctly in the text) is generated as invalid!
We need to create and maintain a script to fix incorrectly generated hyperlinks, but this drawback could be solved at the highest level - just add text variable processing to the hyperlink converter!