Resolve "MR: Reduce the memory footprint of the component tree"

What does this MR do?

It assigns simpler Properties to Components in the MR component tree to reduce our memory footprint.

Please double check all ported logic, if everything is still correct

Why was this MR needed?

We are using way too much memory due to having too big objects being watched.

Does this MR meet the acceptance criteria?

• Conform by the code review guidelines
  • Has been reviewed by a Frontend maintainer
• Conform by the merge request performance guides
• Conform by the style guides
• Conform by the database guides
• If you have multiple commits, please combine them into a few logically organized commits by squashing them
• Internationalization required/considered
• End-to-end tests pass (package-and-qa manual pipeline job)

What are the relevant issue numbers?

Closes #48964 (closed)