@srikoll You can share the segments in Analytics with other tools by publish the individual segments you would like to share
https://docs.adobe.com/content/help/en/analytics/components/segmentation/segmentation-workflow/seg-p...
Setting up A4T would be a better options as it would allow you to use analytics for reporting the target activities along with sharing the Segments.
Once the segments are in Adobe Target, When you setup AEM - Adobe Target integration, these segments should be synchronised into AEM, So you can use it in AEM while creating activities in Targeting Mode. Enabling A4T in AEM-Target config would allow you to select Analytics reporting instead of Target reporting for the activities you create in AEM.
No other AEM content editing feature will be impacted due to this.
You will have to request adobe to enable A4T , A4T integration is independent of AEM and enabling A4T in AEM-Target integration does not mean A4T is enabled .
Please do check if the Segments created in Analytics is available in target, if not the A4T setting might not be enabled .