This component is not configurable by the mission maker. It is rather a feature designed for admins to use. It allows respawning players in spectator. Currently it is not easily accessible in TMF. It can be opened by running the following code or by using the 1Tac admin tool
createDialog 'respawnMenuDialog';
The tool looks like the following and you respawn the player's in groups. It will automatically read the configs from the gear assignment component and present all available factions. You can also make the groups spawn at high altitude with automatically opening parachutes.