I guess I should say it has some capabilities in this area.

Been a while since I used it, but it will generate the overlays and you can sync it with your ride data (eg Strava or Apple Health in my case, but iirc it also supports Garmin Connect).

There are some capability differences between the mobile app and the Insta360 studio desktop app.

I'm pretty sure it handled multiple files, but in my case they were the chunks that the camera splits its recording into, which is a bit different than than having multiple clips as you described.