Conclusion
At the end of designing the component, a maturity level was assigned to show that the component would have further changes in the future as the products that incorporated this component were still being shaped and tweaked.
I further went to developing this component in code with React, TypeScript and Storybook and at the end added this to the Git repository.
“A design system isn’t a project. It’s a product serving products.”
— Nathan Curtis, EightShapes
... and as such, you can only get to a satisfactory point and then you grow again from the last point.
If the products that gets defined by a design system keeps getting improved upon, how do you expect a design system that backs such product not to get updated also