An interstellar object cannot be flying by slowly enough to enter a circular orbit. If it were, it would already have been in a circular orbit. Trajectories can be extrapolated both into the future and into the past. It has enough momentum to escape the Solar System if and only if it came from outside the Solar System.
This assumes the only interaction is the gravitational pull between the Sun and the object. A close approach to Jupiter, for example, might slow an incoming object into an elliptical orbit, or speed a Solar System object into a hyperbolic escape trajectory.