The phrase "a relatively small component" is correct and usable in written English.
It can be used when discussing the size or significance of a part in relation to a whole, often in technical or analytical contexts.
Example: "In the overall budget, marketing expenses are a relatively small component compared to operational costs."
Alternatives: "a minor part" or "a modest element".
The wealth management unit was a relatively small component of the bank.
The War on Drugs was a relatively small component of federal law-enforcement efforts until the presidency of Ronald Reagan, which began in 1981.
In an attempt to further diversify Qatar's economy, the government has sought to develop tourism, in particular by promoting the country as a site for international conferences; however, tourism remains a relatively small component of the economy.
So even where it is a relatively small component of the energy mix, solar relieves stress on our electrical grid, making brownouts and blackouts less likely, and reducing the need for dirty generators that operate at times of peak demand.
Studies suggest that it generated at best about a 3 percent annual saving on running costs, which is modest, especially considering that running costs are typically a relatively small component of total program costs.
The HF was a relatively small component (<5%) of SOC in these sandy textured soils, but at one of the two sites, the HF was significantly increased with more intensive silviculture and for the faster growing family.
The flow direction of these ions is more in the RMSO direction, with a relatively smaller component in the anti-sunward direction, as compared to the solar wind origin fluxes.
I don't think there is any problem with that … There is a really big, big problem around the housing market but the Help to Buy is one relatively small component of the argument".
(In the United States and other developed countries, the price of grain is a relatively small cost component of processed foods).
A tall wooden structure would seem to be a collapse waiting to happen, but a building made from cross-laminated timber is stronger than a conventional wood-frame structure, in which two-by-fours and other relatively small components are tied together by materials like plywood and plasterboard.
