Segment and offset was a scheme used before 80386. After 80386 the segment has no information of the linear address, it is used as pointer to the segment table where is stored the segment base address, the segment size and the segment properties.
For accessing memory the processor adds the memory offset to the segment base address.
The offset is 32 bit, but if the CPU segment descriptor has the base address as a 40 bit register you are able to access a maximum of 4 GB located anywhere in a 40 bit address space.
How do you think that Windows XP32 is able to use virtual memory beyond 4 GB????

Stupidity also evolves!