Component video can be configured by editing /etc/X11/xorg.conf.

For 720p output:

Section "Device"
    Identifier     "Device0"
    Driver         "nvidia"
    VendorName     "NVIDIA Corporation"
    Option "RegistryDwords" "RMDisableRenderToSysmem=1"
    Option "DynamicTwinView" "false"
EndSection

Section "Screen"
    Identifier     "Screen0"
    Device         "Device0"
    Monitor        "Monitor0"
    Option         "UseDisplayDevice" "TV"
    Option         "TVOutFormat" "COMPONENT"
    Option         "TVStandard" "HD720p"
    Option         "TVOverScan" "0.80"
    DefaultDepth    24
    Option         "NoLogo" "True"
    SubSection     "Display"
    Modes "1920x1080" "1280x720" "1024x768" "720x480" "800x600" "640x480"
        Depth       24
    EndSubSection
EndSection

Section "Extensions"
    Option         "Composite" "Disable"
EndSection

For 1080p output:

Section "Device"
    Identifier     "Device0"
    Driver         "nvidia"
    VendorName     "NVIDIA Corporation"
    Option "RegistryDwords" "RMDisableRenderToSysmem=1"
    Option "DynamicTwinView" "false"
EndSection

Section "Screen"
    Identifier     "Screen0"
    Device         "Device0"
    Monitor        "Monitor0"
    Option         "UseDisplayDevice" "TV"
    Option         "TVOutFormat" "COMPONENT"
    Option         "TVStandard" "HD1080p"
    Option         "TVOverScan" "0.80"
    DefaultDepth    24
    Option         "NoLogo" "True"
    SubSection     "Display"
    Modes "1920x1080" "1280x720" "1024x768" "720x480" "800x600" "640x480"
        Depth       24
    EndSubSection
EndSection

Section "Extensions"
    Option         "Composite" "Disable"
EndSection

Older TVs such as Samsung may not support 1080p, so the following line needs to be changed for 1080i:

Option "TVStandard" "HD1080i"

After editing, restart your system by issuing sudo reboot