That is a Dell utility, not part of Windows, and it is not designed to be customizable by you, the user. Thus, you cannot move it to an external drive and you may not be able to see the full contents even if you enable the viewing of hidden files and protected system files. You can, however, resize the partition (GParted is a free solution) to give it more room to grow.

Regardless, it is strongly recommended that you burn a set of recovery DVDs from that partition using the preinstalled Dell utility since that partition will not be available to restore from should the hard drive fail or should you encounter some instances of file corruption.