Note that if you want to use newer versions of material components, you might need to manually install and modify dependencies. As far as I know, the sdk manager doesn't always let you install the newer dependencies.
For example, I've had to do that for constraintlayout 2.0.1, which is required for v1.3.0 of material components. You can download these from google maven, place them in your android skd folder under extras\b4a_remote and edit installed-components.txt to reflect the changes you made.
This should work for up to v1.4.0. For v1.5.0 you have to change the targetSdkVersion to 31, which I don't know if B4A supports at this point.