7-zip does this. You can see it if you open (to view) a large ZIP file on slow network drive. There's no way it is downloading the whole thing. You can extract single files from the ZIP also with only a little traffic.
Would be surprised if that’s not how basically all tools behave, as I expect them all to seek to the central directory and to the referenced offset of individual files when extracting. Doesn’t really make a difference if that’s across a network file system or a local disc.
