Use this snippet to change the default Component Options sorting option from "Default sorting" to "Sort by price".

woocommerce-composites-sort-by-price.php

<?php
/**
 * Plugin Name: WooCommerce Composite Products - Sort Component Options by Price
 * Plugin URI: https://woocommerce.com/products/composite-products/
 * Description: Use this snippet to change the default Component Options sorting option from "Default sorting" to "Sort by price".
 * Version: 1.0
 * Author: SomewhereWarm
 * Author URI: https://somewherewarm.gr/
 * Developer: Manos Psychogyiopoulos
 *
 * Requires at least: 3.8
 * Tested up to: 5.3
 *
 * Copyright: © 2017-2020 SomewhereWarm SMPC ([email protected]).
 * License: GNU General Public License v3.0
 * License URI: http://www.gnu.org/licenses/gpl-3.0.html
 */
 
// To use this snippet, download this file into your plugins directory and activate it, or copy the code under this line into the functions.php file of your (child) theme.

add_filter( 'woocommerce_composite_component_default_orderby', 'wc_cp_sort_by_price', 10, 3 );

function wc_cp_sort_by_price( $default_sort_function, $component_id, $composite ) {
	return 'price';
}

How do I sort thumbnail options per component alphabetically?

Ok, it is this but how can I get it to sort ascending A -> Z?

add_filter( 'woocommerce_composite_component_default_orderby', 'wc_cp_sort_by_title', 10, 3 );

function wc_cp_sort_by_title( $default_sort_function, $component_id, $composite ) {
return 'title';
}

This is the solution:

add_filter( 'woocommerce_composite_component_default_orderby', 'wc_cp_sort_by_title', 10, 3 );

function wc_cp_sort_by_title( $default_sort_function, $component_id, $composite ) {
return 'orderby';

}