If you accidentally upgrade the latest version of your capcut, unfortunately, you won’t be able to use the subtitle export function, because the subtitles are encrypted, so you need to uninstall the latest version and install the old version in between. I haven’t used capcut for a long time, so I don’t know which version was encrypted. If you arrive, please reply in the comments section.
If you need an older version, please download it here:I use 3.2.
https://capcut.en.uptodown.com/windows/versions

If you are using a version 3.0, please open the tool here, or you will not be able to use it:

Capcut SRT Export


If you are using 2.9, please open it here:

https://www.biyaoyun.com/capcutsrt2

If you have translation needs, please see me, translate multiple srt subtitles in batches, and merge bilingual subtitles in batches. The tutorial is as follows:

Batch translation of srt subtitles，One-click combination of bilingual subtitles