Transcript time stamps too frequent

I have a transcript from an important Meetings conversation that is broken into so many time stamps that the transcript is near useless because I'll need to spend a long time deleting and combining phrases to create complete sentences. It has broken everything into short phrases, many just two or three words, before adding another one. 

I was poking around to see if I could regenerate the transcript, and so far do not see how to do that. In the process, I discovered that I actually have the option to allow a time stamp for cloud recordings unchecked. So I would think I should not even be getting them. 

So two questions: why am I getting time stamps with this turned off, and is there a way to fix this current transcript?