For some reason, I captured a few tapes with this option checked in the Log and Capture menu yet it still captured everything as one whole clip. It did this for several tapes. I restarted the program and now it's working properly, but I still have those hour-long clips which will make my workflow suffer.

Is there any way to split the clip into individual clips AFTER capturing it?

Thanks in advance!

You can just make sub-clips. I do it often, but can't remember the exact way to do it, I think you just set your in & out & right click (control click) & choose create sub-clip.