Finder knows how to do this, almost nothing else does.
Hard links &/or permissions are the downfall usually.
Don't attempt to manually trim it as part of the copy process, just copy the whole lot. If you need to trim by size or date, do it separately.
Apple guide on copying - Transfer Time Machine backups from one backup disk to another
In brief:
Format HFS+
Set correct permissions system rw wheel rw everyone r
Turn off Time Machine
Drag the entire Backups.backupdb folder to the new drive.
Ask Different guide on trimming for size - Remove unnecessary backups from TimeMachine to get space