Right. A stereo mixer can only output 2 channels at a time, regardless of how many instruments/mics you have plugged into the mixer.
So you should be able to record 2 instruments/mics into MC. Plug 1 guitar into the mixer; set that channels pan all the way left. Plug the other guitar in and pan it all the way right.
In an audio track in MC, set the input to (name of USB device) left and on another audio track, set the input to (name of USB device) right.
To do what you're trying to do, you need an
audio interface that has multiple outputs.
And welcome to the forum.