Hey I seem to have fixed it, and in doing so I noticed some more odd behavior.
In the data panel I noticed that the component assembly was showing the little exclamation point in a triangle warning that, when hovered over, claims that 'File is not available at the moment.' Strangely I was able to open and play around with the component file but the un-updated component claims detailed my original post were present. While the exclamation point was there I was unable to download the component as an archive but I could copy it to different locations inside my project.
I saved a new version of the component assembly and restarted fusion. This seemed to do the trick, as when I looked at the component again the exclamation point was gone and upon opening all referenced components were up to date.
I've noticed another single component file with the same exclamation point warning, and when I go to open it I am warned that the component is being saved by another user who was working on it and prompts me to open a previous version. The user is not however currently saving the component, so fusion seems to have hung on the save update or something.
I didn't receive this 'being saved by another user' warning on the component assembly of my original post, but the last person to save that component assembly was me. So here's what I think has happened:
Fusion got stuck/hung up when I saved a new version, not on the actual saving of the version but acknowledging that the save had been completed. As I myself was the last person to save the component assembly that I then tried to access I didn't receive the 'component is being saved by another user' warning, but the component assembly was shown to be unavailable because fusion thought that the save process was still underway. When I saved a new version fusion restarted the save process and this time around didn't get hung up this time.