Panopto has automated captions that can be inserted into a video and then cleaned up. These are added to all new videos by default and can be placed into past videos as needed.
It takes about half the length of a video until the captions are ready. If a lecture is 30 minutes long, for example, the automated captions should be ready in about 15 minutes.
More information is at https://support.panopto.com/s/article/ASR-Generated-Captions