Segmentation is not involved in the email sending process, it creates a "List" of prospects based on preidentified criteria and later on this list can be used to different sorts of emails.

Static segmentation: provides a one time "Snapshot" for your database. It doesn't automatically update with future potential prospects. (ideal for one time events)

Dynamic segmentation: continuously updates your list with the addition of new prospects that meet your preidentified criteria. This "set it and forget it" model ensures your lists are always current without manual updates.

Segmentations are set to run "daily" It can also be set to run weekly or monthly as per your preference.
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There is a daily limit of 5 manual refreshes. After reaching this limit, the "Refresh Now" option will no longer be available for that day.

Choosing "Historical Events" in the criteria set up page will only be applied of the current prospects not the future ones.
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Dynamic segmentations can automatically clean lists nightly (checkbox clean unmatched prospects), removing prospects who no longer meet the criteria. However, manually added prospects are not removed unless specified.
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Check "Show as list in email marketing" under "Advanced settings" to make sure the list is populated and available for emailing.
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The population of the list takes between minutes to several hours depending on the number of the affected prospects.

In case of urgency, you can send an email before the list creation through "Bulk Action" via Prospects > Lists > Segmentation tab then choose prospect/s and perform the bulk action