How to create a component with icon for actors?

I want to create an icon that becomes visible when the player is within a certain range. I thought of creating an actor with a sphere collision component that makes the icon visible when the player overlaps and invisible when the overlap ends.

Then I realized I wanted to add this functionality to multiple actors, so I considered turning it into a component. However, I encountered the issue that I can’t add a sphere collision component inside a component. How can I solve this? Is it not possible to create a component this way?

It is possible to add new components to a component’s owner.

Not nearly so convenient as adding them at design time directly to actors, but entirely possible.
I used a cube static mesh (var box) here, where you would have your icon:
(This is the Begin Play for the component that adds the other needed components to its owner)