Should be able to work, in theory, as both VGA and Component are RGB and support high-res.
http://www.kikatek.com/product_info.php?products_id=159238&source=froogleHowever, it may well depend moreso on whether or not your graphics card can support it.
Does your screen not have a VGA port?
You'd also need an audio-in socket and usually a 3.5mm - 3.5mm lead as well, to transfer the audio to your TV, unless using an amp (neither VGA or Component can carry audio).