It looks like that wve to mp4 conversion is generally related to two different conversion that deal with the same thing, i.e. export of a project to a finished multimedia file. This is only possible if you also have the original multimedia data referenced in the project, without them it will be impossible to recreate the video.
The most likely wve to mp4 conversion scenario is export of Wondershare Video Editor projects (.vwe) to MPEG-4 video (.mp4). As far as we know you will need the original software, but the successor product - Filmore may also be of the here, especially if you are on MacOS.
In essence, the very same thing like the previous wve to mp4 conversion, just for the Cyberlink PowerDirector.