SCCM - SMS_SITE_SQL_BACKUP component failed to reinstall

The resolution of this issue is simple. Follow these steps:

Go to where SCCM is installed in your YourSiteServer. eg. C:\Program Files (x86)\Microsoft Configuration Manager and locate the file install.map

Open it with a text editor.

Find BEGIN_COMPONENT_FILELIST
        <SMS_SITE_SQL_BACKUP>

Now add the following: FILE <srvboot.exe><0><219904>
between
FILE <smssqlbkup.exe><1><766496>
and
END_DIRECTORY
It should look like this:

BEGIN_COMPONENT_FILELIST
    <SMS_SITE_SQL_BACKUP>
    <1193>
    BEGIN_DIRECTORY
        <bin\i386>
        <9><X86><>
        FILE <smssqlbkup.exe><1><766496>
    FILE <srvboot.exe><0><219904>
    END_DIRECTORY
    BEGIN_DIRECTORY
        <bin\x64>
        <17><AMD64><>
        FILE <smssqlbkup.exe><1><1547296>
    END_DIRECTORY
    UNIT <SMS>
END_COMPONENT_FILELIST

NOTE: The numbers <219904> are the size of srvboot.exe in bytes. Check the size of your srvboot.exe and if required change the value.

Now restart your SMS Component Manager and you are done!