4140 - 708M40, En19?
I suspect that deflection is the result of residual stresses set up during heat treatment being released by the splitting operation. Not sure how possible this is, but can you machine the component with the material in the annealed condition, and heat treat subsequently? Another possibility is to determine a smaller OD to machine stock material obtained in 'R' condition to, with the same wall thickness, then split, such that the sprung-open component achieves design dimensions. A third option is to machine 'R' condition material to somewhat generous on design dimensions, then split, then finish OD and ID by mounting on custom-made mandrels or turning fixtures.