I collect the 1935 Goudey 4-in-1 set, which is similar to the four player exhibits. One of the cards that I had had been cut about 3/4 of the way in each direction - it looked like the original owner wanted to cut it into four smaller cards, but then stopped before he finished the job. SGC graded it as "Authentic" due to the cutting. (I subsequently sold the card and picked up one that graded numerically).
If the card has been completely cut and the individual player sections are detached, I doubt that any company would grade it. I think SGC only graded my card because all parts of the card were still connected.
If all four players were cut apart and then put back together, we would likely not encapsulate the card as Authentic. Similarly, we will not authenticate or encapsulate single sections of these 4-in-1s.
A number of these exhibits were cut up but because the first series had a post card on the back, and the second had a full page of advertising it is though that they were not made to be cut apart.
Also as had been said your card is either a 1936 or 1937, hard to tell the color on a scan but I would lean toward 1936 but both years have the same players and only the slight color difference between years and 1936 has the blueish tint.