7 Zip will segment files as it creates a compressed file with this command:
cd "C:\Program Files\7-Zip" 7z -v500m a c:\backup\Filename C:\FolderToCompress
Usage: 7z a -v{Size}[b|k|m|g] [<switches>…] <archive_name> [<file_names>…]
<Commands>
a : Add files to archive
b : Benchmark
d : Delete files from archive
e : Extract files from archive (without using directory names)
h : Calculate hash values for files
i : Show information about supported formats
l : List contents of archive
rn : Rename files in archive
t : Test integrity of archive
u : Update files to archive
x : eXtract files with full paths
<Switches>
— : Stop switches parsing
@listfile : set path to listfile that contains file names
-ai[r[-|0]]{@listfile|!wildcard} : Include archives
-ax[r[-|0]]{@listfile|!wildcard} : eXclude archives
-ao{a|s|t|u} : set Overwrite mode
-an : disable archive_name field
-bb[0-3] : set output log level
-bd : disable progress indicator
-bs{o|e|p}{0|1|2} : set output stream for output/error/progress line
-bt : show execution time statistics
-i[r[-|0]]{@listfile|!wildcard} : Include filenames
-m{Parameters} : set compression Method
-mmt[N] : set number of CPU threads
-mx[N] : set compression level: -mx1 (fastest) … -mx9 (ultra)
-o{Directory} : set Output directory
-p{Password} : set Password
-r[-|0] : Recurse subdirectories
-sa{a|e|s} : set Archive name mode
-scc{UTF-8|WIN|DOS} : set charset for for console input/output
-scs{UTF-8|UTF-16LE|UTF-16BE|WIN|DOS|{id}} : set charset for list files
-scrc[CRC32|CRC64|SHA1|SHA256|*] : set hash function for x, e, h commands
-sdel : delete files after compression
-seml[.] : send archive by email
-sfx[{name}] : Create SFX archive
-si[{name}] : read data from stdin
-slp : set Large Pages mode
-slt : show technical information for l (List) command
-snh : store hard links as links
-snl : store symbolic links as links
-sni : store NT security information
-sns[-] : store NTFS alternate streams
-so : write data to stdout
-spd : disable wildcard matching for file names
-spe : eliminate duplication of root folder for extract command
-spf : use fully qualified file paths
-ssc[-] : set sensitive case mode
-ssw : compress shared files
-stl : set archive timestamp from the most recently modified file
-stm{HexMask} : set CPU thread affinity mask (hexadecimal number)
-stx{Type} : exclude archive type
-t{Type} : Set type of archive
-u[-][p#][q#][r#][x#][y#][z#][!newArchiveName] : Update options
-v{Size}[b|k|m|g] : Create volumes
-w[{path}] : assign Work directory. Empty path means a temporary directory
-x[r[-|0]]{@listfile|!wildcard} : eXclude filenames
-y : assume Yes on all queries