It is possible and I do it now with many of my recordings.
Unfortunately, there is not a ready-made solution, but it can be done using a few 3rd party tools.
This video
https://drive.google.com/file/d/1GiYYT9KsK1tv9Bc7pWYp4Gc6pTo-cH11/view?usp=sharingdemos my semi-automated method of producing individual wav files for each midi channel in a midi recording.
To do this, the tools you need are:-
gn1to0 (from gnmidi.com - free utility in the Freeware section). Use this to convert the midi file format to Type 1 (midi2wav works with Type 1 midi files).
midimutt (from gnmidi.com - commandline utility in the GN MIDI tools section, cost 18 Euros). Use this to create individual MIDI files for each midi track/channel. It is a commandline program so you need to be familiar with using DOS command line utilities. You would need to create a batch file containing the conversions command for each midi channel (if your midi file has 16 midi tracks(channels), then this will contain 16 commands, and then just run the batch file. You would only need to create the batch file once and then use for all your midi files.
midi2wav (from midi2wav.com - cost $29.95). Use this to batch convert the all the individual midi files to individual wav files using your Arranger as the sound generator. It sequentially plays each midi file to record a wav file, so if you have 15 midi files of 2 minutes each, the process will take 30 minutes. But it is automated and you can go away and do something else while it is doing it. AND - all the wav files are synchronised so they play together perfectly when imported into your DAW.
As shown in the video, I have prepared my own program to help launch there programs. But now I only actually use it to generate the inidividual midi files using midimutt.
(by the way, I also have a Roland FA08, and this has its own built-in utility for doing all this).
Hope this is helpful.
Regards
Roy