Hi and welcome,
The componant monitor monitors parts of an application. Here is a good definition from CFP help file:
A component, when loaded into application’s memory, acts as a part of that application hence having the same network access rights as the application itself.
Comodo Firewall Pro now validates all the components of an application before granting the Internet access. These components may be dynamic link libraries or ActiveX components that an application is using.
Component Control Rules can be added, removed and applied via the Component Monitor.
Windows Defender does monitor applications and their componants, but in a different way than what CFP does.
By disabling any part of any security software you are likely to improve performance it's just a matter of deciding which you would rather have - better security / better performance.
By disabling the componant monitor of CFP each comonant will be treated as a seperate application and you may need to grant permission for them rather then CFP automatically granting it for you based on application rules - and thus, this may dramatically increase the number of popups you receive from CFP.
Mike