I don't know of any outside groove wizard BUT the Gcode is fairly easy to work out.
Sample Code for cutting a groove outside on a boss
F100
G0X0Y0Z1.000 (center over the boss)
G1 X2.4 (Move out to a clear position Boss Radius + tool radius + clearance)
Z-.5 (lowerZ to cut height)
G3 X1.4 Y0 R.5 (Move in to depth of cut for oring groove using arc leadin)
G2 X-1.4 Y0 R1.4 ( cut a circle in two parts)
X1.4 Y0 R1.4
G3 X2.4 Y0 R.5 (Move back out to a clearance position using arc leadout)
G0 Z1.000 ( Raise Z to a safe height)
X0 Y0 (Move back to boss center)
M30
Just a thought (;-)TP