The name is likely a portmanteau of NT (Windows NT architecture), BOOT (bootloader/startup files), and 7Z (7-Zip compression). In a forensic scenario, this usually involves:
Searching for "NTBOOT7Z" often leads to discussions and guides related to Windows installation and boot management tools ntboot7z
detail how to use NTBOOT7Z to package boot files into a 7z archive to save space on bootable USB drives. VHD Booting The name is likely a portmanteau of NT
The index parameter selects which image inside the WIM (e.g., 1 for Windows PE, 2 for Windows Setup). Booting multiple Windows installations from the same disk
Copy a folder containing ntboot7z (the executable/EFI), plus three ISOs (e.g., Windows Setup, GParted Live, MemTest86) to any external drive. That drive now becomes a Swiss Army knife of bootable tools.