The correct options are You want the issue assignee to be set automatically based on the selected component and The configuration should be maintained by the project administrator rather than a site administrator.

You want the issue assignee to be set automatically based on the selected component is correct because Jira components can have a default assignee or component lead. When an issue is created with a component the configured lead or default assignee can receive the issue automatically so you do not need a global custom field to drive assignment.

The configuration should be maintained by the project administrator rather than a site administrator is correct because components are managed at the project level and can be created and edited by project administrators. This keeps the configuration local to the project and avoids requiring site administrator access to change a global custom field.

The field must be usable across many projects site wide is incorrect because components are scoped to a single project and are not available site wide. If you need a field usable across many projects you should use a global custom field or a field with a global context.

You need a single picklist value to support cross project reporting and filters is incorrect because a picklist that must be consistent for reporting across projects should be implemented as a global custom field. Components differ by project and will not provide a single consistent picklist across multiple projects.

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