Chain with master link / quick connect link doesn't clear rear derailleur
That chain connector is not only for single speed, but I believe it is for 1/8" chains as well, so you may have a track chain, which is not meant for multi-speed drivetrains.

If it's not an 1/8" chain, and is instead a 3/32" chain, and your drive train is 8 speed or less, you can just replace the master link and you should be good to go. The master links only cost a few dollars so it can be a lot cheaper than swapping out the whole chain.

Master links for multi speed chains look more like this:



Or, if you have a chain tool, you could just remove a full link from the chain, skip the whole master link business entirely and ride today and let future Leeroy deal with it. Being short one link shouldn't be very problematic. This is also the only option if you have a 1/8" chain as mentioned above, and don't want to replace it.