Go to the circle and then convert the design to a curve. You will then have nodes to work with. Go to the node tool and select the top node and then go to the action along the control bar (top of the screen) and click the break curve. Select the bottom node and repeat the same action. Go to the move tool and select one of the two curves in the layers panel and drag away. You still need to close the curves, go to the actions and for each of those curves, click close curve. You can re-color the design, add layer effects etc
There is no break curve etc in Photoshop, so a workaround is required. Create a rectangle shape (use vector shapes) and create it bigger than the artwork and then place it over one half of the circle, you can use smart guides via the view menu to make it easier. Select both of the shapes, the circle and rectangle and then go to the layer menu and combine shapes and subtract command and now select all the points in this 'combo' by using the direct selection tool and then goto the control bar and set operations and select the merge components option. Now select the semi-circle and duplicate it using the alt / option or layer duplicate and then rotate it 180 degrees and change the color of one of the halves (or not)
You can also create a design without a fill and create just the stroke version of this. You can convert to pie / curve etc as before but you can also select two nodes and go to the break curve action and click that for both and you will then have two paths, you can delete the one that is not the U-design or C-Design depending on how you want to look at it.