Use this snippet to make the "default" Component Options sorting option operate based on "menu_order".

woocommerce-composites-sort-by-menu-order.php

<?php
/**
 * Plugin Name: WooCommerce Composite Products - Sort Component Options by Menu Order
 * Plugin URI: https://woocommerce.com/products/composite-products/
 * Description: Use this snippet to make the "default" Component Options sorting option operate based on "menu_order".
 * 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_orderby', 'wc_cp_composite_component_orderby', 10, 3 );

function wc_cp_composite_component_orderby( $order_by_options, $component_id, $composite ) {
	return array_merge( array( 'menu_order' => __( 'Default sorting', 'woocommerce' ) ), $order_by_options );
}

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

function wc_cp_composite_component_default_orderby( $default_order_by, $component_id, $composite ) {
	return 'menu_order';
}