use 5.014;  # needs /r modifier for s///  (also uses 5.10+ \K)

use warnings;
use strict;

use Data::Dump qw(pp);

my $cl = q(execute test_number_1 -tex -tex_args -sub_args +debug_dir=./ -fizz_boff -sub_args +debug_dir=./ -constraint parity_en,random_en -sub_args '"' ruck=1 '"' -bar   -xyzzy   -bar-   -constraint dual_en -sub_args -cd -sub_args 2596.slow -fizz_boff- -sub_args test -seed 1 -tex_args- -opt 1 -foo -x y -zz 42 -foo- -tag 2 -last 1);
print qq{>$cl< \n\n};

my $in  = '    ';  # indentation for each level of nesting
my $rin = qr{ \Q$in\E }xms;  # regex for 1 indent level

my $clump = qr{ (?: -sub_args \s+ \S+ | \S) .*? (?= \s+ - | \Z) }xms;

my $answer;
$answer .= s/^-/$in-/gmr . qq{\n} for $cl =~ m{ $clump }xmsg; # ok
pp $answer;  print "\n\n";

1 while $answer =~ s{
  (^ ($rin+) - [^\n]+) \n \K  ((?: ^ \2 - [^\n]+ \n)*?)  (?= ^ \1 -)
  }
  { $3 =~ s{^}{$in}xmsgr }xmsge;

print qq{>>>$answer<<< \n\n};