After updating Snagit, I am no longer able to capture editable text.
A new form of text capture is introduced in Snagit 2018. The new text capture offers much more functionality, and more reliability than what was offered in previous versions (prior to version 12). For more information, please see here.
Snagit 12 & 13
With the release of Snagit 12, the Text Capture functionality found in previous versions is no longer available. The decision at the time was reached due to very low usage numbers and Snagit's increased focus on Video and Image capture. The code used for Text capture in older versions had become too difficult to maintain, such that updating it to work properly on newer applications and operating systems would have severely delayed our improvements to other areas of the code.