I've picked it up multiple times for my various alts. It never takes more than 15-20 minutes to find the part.
Be methodical: don't just run and drop the detector the run and drop the detector again. Open the map and decide on a route to take. The max detection range is a 25m radius: see where the green circle ends and move in a straight line to where it ended and place the detector again, and then keep repeating this until you reach the end of the line, move 25m to the side and go the other way in a straight line.
Also, very important, let others know that you are searching for the HK component and ask others to post in General when they detect the part so you can head to their location. You don't have to be in a group with them to pick up the component: once discovered it will remain lootable by everyone for 1 minute. (Don't forget to tell others when you detect the component as well
Good luck with your search.