I wonder / think the head design is ripe for innovation. The current designs use stepper motors with shafts that have holes. These steppers are way more powerful than they need to be. They are also heavy.
A few ideas:
How about a dual head built with 3 micro servos?
They are cheap, light weight and low power.
One servo on each head is used for component rotation.
The best resolution I've found is 1024 steps on 180° equal to 0.2° resolution.
Example: Tower Pro SG90 Digital 9g with 1us dead band (SG92R Digital has similar resolution).
That is 0.065mm or 2.5mil steps on the corner of a 30x30mm component.
This can be turned into 360° positioning by rotating the servo before pick-up and again before adjustment/placement.
The nozzle adapter with vacuum tube attachment and servo spline connector can be 3D printed.
The exact cone shape could be improved by turning a soldering iron tip with the exact conus shape,
and heat it to the proper temperature before pressing into the 3D printed conus shape to smooth it out.
The last servo is driving a small tooth belt with the heads attached to each side.
When one head goes up the other goes down and both are level when the servo is centered.
If you need 10mm vertical clearance on each head you need 20mm movement.
That is 0.02mm or 0.8mil vertical resolution.
With a small ESP32-CAM communicating via WiFi and driving the 3 servos and the camera, you only need 2 wire dc power.
This would require good capacitive decoupling of the dc power due to current spikes drawn by the servos.