Seroquel xl IS prolonged release. If it was immediate release, it would be called seroquel IR. The coating is what allows it to release according to formulation. When you cut the pill, it will no longer work as designed.

SEROQUEL XL 50MG PROLONGED RELEASE TABLETS | Drugs.com

"Seroquel XL tablets are prolonged-release tablets designed to release quetiapine slowly and continuously over 24 hours to help provide steady blood levels of the medicine throughout the day. Seroquel XL tablets should be taken once a day without food, at least one hour before a meal. If you are taking Seroquel XL to treat a depressive episode or as a mood stabiliser for bipolar disorder, your daily tablet should be taken at bedtime. Seroquel XL tablets should be swallowed whole and not broken, crushed or chewed, as this would damage the prolonged-release action.

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