You need to be in Log and Transfer and have the Canon E1 plugin installed (and you select ProRes in the Pref). If you don’t convert the files as you import them you will have to do a lot of rendering.
[John Kabasakalis] “My Capture Preset reads HDV-ProRes 422…”
You are not capturing anything so that setting would not effect anything. And you don’t want that because the sequence are 1440×1080 instead of the full raster 1920×1080.
Normally I just start with a clean sequence drop a clip I know has the right codec/framerate on to it. It will yes if you want to change the settings to match the clip, you say yes and you are good to go. Of course the but IF is that your clips have been brought into FCP via Log and Transfer.