actually this happened for me.. but the image was viewable but completely distorted by vertical lines.. I some how managed to reduce it to my monitor's max in the game options.
The thing with this game is..I think, the game by default, sets the maximum available resolution even though it is not your monitor's max. Despite of our current desktop resolution, it shoots for the max. resolution set by our gfx. Our gfx card faulty interprets the max resolutions some times, This happens due to faulty cables or crappy converters or just because of any bugs. For me it was 1600x1050 but actually it is 1400x900. It is caused by dvi-vga converter that i was using.
go to "\Users\*****\Documents\Disney Interactive Studios\Split Second"(IF You are in windows 7) or "My Documents\Disney Interactive Studios\Split Second"(IF You are in xp) and find "config_ss.cfg" You can change your resolution, Frequency in that cfg file. But first make another copy of it and save it as a backup.