There is 98Lite
, which claims to support WinME as well.
Other than that, the only tools that I know of that could be used for this are "slipstreamers." This would be a very complicated and involved way of achieving what you want, as it must all be done by hand, editing INF's, running & editing batch scripts, etc etc. No fancy GUI app with checkboxes.
There was an attempt to create a 98SE slipstreamer here on the forum, but I don't know if all of the required components are still available, or how much success it achieved.
I have a special set of slipstreaming tools that I have purchased from RLoew...