RPT_SEGMENTs are models of model type Fanout. RPT_SEGMENT is just the model name. It doesn't extend beyond that. They have no special intelligence beyond what the Fanout has. They are created by discovery when two or more devices modeled in Spectrum hear a common MAC address in the transparent bridge table.
In the case of VHM, you're seeing them because the switch immediately upstream of the VMs isn't modeled. Have you modeled the virtual switch? You aren't missing much without resolving the connections currently resolved to the RPT_SEGMENT models, other than a minor amount of fault suppression.
As long as the models are set to discover connections on reconfiguration, you can send the reconfigure action 0x1000e to a switch model that hears one of the MAC addresses, and the modeling will complete on its own; or you can just discover the range and let VHM discovery do it for you. I wouldn't bother with creating associations via the API. Unless you then lock the connections, discovery is likely to change them anyway.
Scott