It won't matter which way you print Component2 as it has threads on both ends. You will need to add support. I would print it with the bottom down. This will allow you to use a separate mechanical piece to support the inner part. You can print this piece with HIPs to make removal easy. (You just need to pause the printer when you reach the start of the inner part and insert the mechanical support piece>)
If you're printing with 1.75mm filament, reduce your layer height to the minimum your printer will support. I normally use .07mm and can go to .05mm on difficult prints. You can also try using a higher temperature and/or slow the print speed down while doing the threads.
Another option would be to use larger threads if possible.
p.s. You won't be able to print Component1 as the minor diameter of the thread is smaller than its base. You'll need to redesign both parts in order to fix this.
ETFrench
