Is there any way to determine the edition (Standard, Enterprise, Express, Developer) of SQL Server components using BFI?
Example Components:
Microsoft SQL Server Reporting Services
SQL Server Analysis Services
SQL Server Notification Services
It does but not for the components 
Do you have a specific component name in BFI? The 2nd screenshot shows the component Reporting Services 2016 for the Server
In BFI under the Software Classification report, the column for Component Detailed Version shows the version of SQL Server Mgmt Studio we have installed. I don’t have the Reporting Services installed to check that one.