Video recording in QT stretched to 16:9 when recording Hi8 video?

I'm transferring some old videos from a Canon with Hi8 videotape to Quicktime. The device I'm using to connect is one with 3 RCA plugs going to a USB 2.0 connection on my computer (it also has S-video connector).

I have had success with capturing the videos.... BUT they are all in 16:8 ratio and everyone is squashed down a little in the video so it looks off...!!

Is there a setting in QT that can change this...or is it the device capturing the video that's causing the problem? Any other recommended solutions?

I'm on a Mac M1 Max w/ Sonoma

Thanks!