Yes. You can ship part of an order and create more shipments later.
Open the order under orders, then use fulfill order. Enter the quantities you are shipping now (up to the remaining quantity), optionally add a tracking URL, and use create shipment.
You can repeat this for later shipments. Each shipment can have its own tracking URL. The buyer gets an email when a shipment is created, including the track link when you provided one.
Quantities you have not shipped yet stay open on the order as partially shipped. When you will not ship the remainder, use refund for those quantities.