I’ve done this recently with my 3080 with great results, although using an S-Video input instead of component. I first used this cable to adapt a displayport out to VGA, then used this adapter to go from VGA to S-Video (and it also outputs composite). I found it worked quite well, although the S-Video adapter needed some tinkering to get it just right (also even though the power cable is usb, a standard pc port doesn’t give enough power, so you’ll need a wall wart for it or else the colour will be intermittent). It’s capable of downsampling from a wide variety of resolutions, so there’s no need for a custom one as long as it’s the right aspect ratio, though native 480 does sound neat.

The alternative is simple. The seven seas are calling out to you. :)