Another workflow to consider:
- load your long master clip into the Source Monitor.
- Create a matching sequence
- Edit all segments of interest from the Source Monitor to the Timeline.
- Drag all the clips from the sequence to the Project panel --> this creates a set of new project items, each an independent master clip with In/Out range matching the track item it was created from.
- Rename the new project items.
Because the project items created in this manner are master clips, not subclips, Match Frame will work as you expect.