Are splitscreen settings separate for each player?

I might be playing splitscreen in MCC for the first time and am curious if the settings (such as controls, sensitivity, etc.) are separate for each player. Both of our control schemes are quite different so if not that might be an issue.

Yes, the input settings and sensitivity are different for each player. One thing to note, no matter what you configure the FOV, it will remain locked to whichever value each game decides it too.