I’ve never used Rhino, Modo or displacement maps so someone more knowledgeable will need to respond with more robust information.
My rudimentary understanding of displacement maps is that it has nothing to do with actual polygons. Isn’t it just a image based representation of how the high resolution details should appear via a rendering engine? If so, then I don’t see how Rhino can give you what you will need once brought into Rhino.
Since I don’t know anything about Rhino, it could be that Rhino has functions for converting a displacement map to actual polygons, but still, I don’t think that would be a good work flow. Here’s why, displacement maps will always have less detail than the actual high resolution polygons that can be observed within Zbrush. Displacement maps are more of a illusion that can make a low polygon model, rendered in a game engine for example, appear as high resolution model. Also too, there are limitations regarding the UV mapping on a model such as seams, stretching and compression of the image.
Given that, if my understanding is correct, your best bet would be to decimate within Zbrush.
Zbrush has one of THE BEST decimation processing capabilities that I’ve seen. You can take a model with say 10 million polygons and reduce it to 1 million polygons and struggle to see any difference at all. And going down from there to say 100 thousand polygons is noticeable but only barely noticeable.
So once you have it decimated down, you can slice it up any way you want in Modo or Rhino. As I’ve said, I’ve never used either of these, but I know they are very robust pieces of software and I’m sure they can do slicing across polygon faces while adding edges at the slice.
There are people in this forum with far more knowledge than myself so hang in there a for bit and I’m sure one those master artists will stop by and tell you all about what you need to know.