Hi @kwf
Due to holidays, the replies were delayed. Hope you are having happy holiday too.
I was checking your code and I realized that you missed to enable the FRG1 (Free Running Generator) that is needed to have the clock of 12MHz activated for FlexComm1 (selecting the option of FRO 12MHz Clock in the column value), so the answer is Yes, it is necessary to configure CLOCK_SetClkDiv for having Fast Mode Plus.
You can check the changes that can be implemented right here:

Regarding your question about if fast mode plus is only possible on slave mode, the answer is no, you can set this bus speed for both modes, as master or as slave. Only for High-speed mode (3.4Mbit/s) is possible on slave mode.
Hoping this information could be helpful, please let me know if you have more questions.
Best Regards.
Pablo Avalos.