Component video separates the RGB colors whereas 'composite' is so named because it carries them all over a single cable. In order to output component video when the input is composite, the switcher needs to perform 'transcoding'; ie convert one format to another. A/V recievers can do that but switches generally do not.
If you have a mix of composite and component they will have to be carried separately even if you buy a switch. That means that you will have to input the component video to the switch with a component video output to the monitor and a separate composite video input to the switch with a composite video output to a different composite video input on the monitor.
If you happen to be ready to upgrade your receiver, just get one that can transcode composite video to component and your problems are solved without a separate switch.
Still,
http://www.gefen.com may have a switch that can also do transcoding.