I see that practice of opening old thread without reading it is still alive 
You can’t place the component inside another component. The Actor is the only type of object designed to handle components. That’s UE4 architecture (as graph below presents, this how relations between objects look like). There won’t be a “different node”.
What Clazzid described above is a workaround, and quite a bad one. (although he nicely explain how it works). It shouldn’t be typically used or even needed.
Timelines aren’t the only way to animate stuff. We got also:
- timers
- curve assets
- Sequencer
Timeline is a bit cancer of UE4 - so easy to use, so people rely on it too much. Having many separate components just for animating few values sometimes during actor life isn’t the best practice.
