First off, do you know the distinction between RGB and component video?
Component video in the broadest sense refers to video separated into components, including S-video, RGB, and YPbPr. However, the term is almost always used to refer to YPbPr colour difference video. I won't go into details, but I will mention that the green-blue-red 3-RCA connection referred to as Component or ColorStream is YPbPr colour difference. RGB, on the other hand, is separated into red, green, and blue components, plus sync. When we say RGB, we are usually referring to 15KHz RGB, which almost always has composite sync (one sync line). VGA is also a form of RGB, but has separate horizontal and vertical sync lines and runs at 31KHz and higher resolutions.
PSone screen can never input YPbPr. N64 can never output YPbPr. PSone screen does accept RGB. An -05 N64 cannot be RGB modded- you need an -04 or an -03.