Get a bit of silver steel, about 1/4" in diameter.
Turn a length of it down to about 4mm.
Part or cut off leaving a disc on the end full diameter and as thick as you want the groove.
File away a 90-degree notch in the disc, looking at the big end, make the bottom horizontal part of the notch at 3 o'clock on the right. This will be your cutting edge.
Harden and temper.
Hold in the toolpost according to what you have and your ingenuity, like a boring bar.
Cut your groove.
I know this works because I have done it.
Neil