Right out of the blocks, this was a great new component for your Flows. In reading through some of the comments, I saw a need to add a few enhancements to the basic component. Since there was an Edit mode being offered, I added a Cancel button so the user could reset the fields if they decided not to proceed with the changes.
I also added an option to support Flow navigation on both Record Save and on Cancel. To make it easier for Admins to understand and use this new component, I updated the attribute labels to be more descriptive as well as adding Help Text for each attribute.