It has been twice my team encountered this bug of Undefined variable $component
when developing web app using Laravel Livewire. Personally, I am a fan of Laravel Inertia (Jetstream or custom).
Once in a while, they will be greeted with the error display like below:

After spending quite a handful hours to debug and fix the “Undefined variable $component” error, we found that it was due to PHP OpCache default limit. Our production server, seems to put a quite low limit for opcache.max_accelerated_files
for 7963. This ultimately limit the number of files possible to be loaded into the PHP OpCache memory. Hence, the missing $component
throw error.
So, if you faced with this bug, and tried everything to solve it, such as code review, Laravel cache clear, and such, go ahead, look into your PHP opcache config and increase this number. Below is the new configuration I put on the production server, which contains multiple PHP apps.
zend_extension=opcache.so
opcache.enable=1
opcache.revalidate_freq=0
opcache.max_accelerated_files=100000
opcache.memory_consumption=512
opcache.interned_strings_buffer=64
opcache.fast_shutdown=1
Restart your PHP, and have a good day!
Source: GitHub