Insert Color Change

I have a design that I need to insert a color change so that the design is 2 colors not 1. In previous software that I have used I was able to insert a stop, color change or break apart. Attached is the sample that I am working with in Hatch. The ring should be a separate color from the bow in the center bottom of the design. I cannot seem to find a function in Hatch to perform this task.

Hi
Normally you can the knife too to cut the object but this object seems like it was imported from another design and not created in hatch.
I done a stitch edit and at the stitch that you want to change color you can select another color on the toolbar , this changes the color but i'm not sure if that works on the machine or not.

Thank you for the reply. I tried the process that you suggested on the sample file and it did not change colors for me. This file was not created in Hatch originally.

Try this:
Select the design > Click Edit Menu > Recognize Stitches
Then you can select the objects in the sequence docker and change the color.