Premiere Pro provides a comprehensive captions toolset that lets you create edit, stylize, and export captions and subtitles in all supported formats.
You can start with an existing .srt transcript file, or type in your captions manually. Caption segments live in a dedicated Captions Track on the Premiere Pro timeline where you can adjust them like any other media using the editing tools. Edit the text in the new Text panel or right on-screen in the Program Monitor. Stylize captions using the design tools in the Essential Graphics panel.
When your video is ready, you can export the captions as stylized, burned-in subtitles, a .srt sidecar text file, or embedded in a QuickTime or MXF file.