Components are not optional and provide specific functionality. If your project depends on a Component, it must link to it and include all the source code.
Plugins on the other hand can be optionally installed; and your project can either chose to handle the case when the plugin is not present, or or refuse to launch / crash etc.
Another difference is that plugins provide "generic" functionality; thus in theory you can have two plugins offering the same generic interface but they are different implementations. Like RenderSystems providing D3D11, OpenGL, Metal & Vulkan. They are all 4 different plugins that can be used interchangeably.
Though in practice, save for cases like RenderSystems, this is rarely the case because due to Hyrum's law a plugin is likely not going to be exchangeable with another plugin. PSX and N64 Emulators in the 2000's also used Plugin systems to offer different GPU/Sound/Input implementations, but after a decade they realized emulators and plugins would often end up very tied together and thus the plugin model was abandoned (note that Ogre came out in 1999, it's not a coincidence it went the Plugin model too).
Therefore often the distinction between Plugins and Components is almost non-existent except for how they're linked together (Components are just libraries linked by C++, plugins must be registered and dynamically loaded at runtime; unless using static builds in which case plugins must only be registered).