[Task]: Make logic for static and runtime component parameter validation more consistent

[makubacki]

Request Description

Pull request #1124 added compile-time component parameter validation. For future maintainability, it would be ideal to have the method used to validate component parameters at compile-time and runtime as similar as possible.

This task tracks consolidating and unifying that logic.

Are you going to make the change?

I will make the change

Do you need maintainer feedback?

No maintainer feedback needed

Anything else?

No response