I've run into the same thing, but found out that the Component input didn't translate the video from Composite. It took one more press of the TV Input button to select possibly AV1 or 2 in order for the TV to recognize the Composite video. That should solve your problem.
I don't believe the TV manual made that clear, but it did show that both Component and Composite used the same physical inputs. Many TVs no longer have separate Composite input but provide the function via the Component input and a different input selection.
