Interrupt execution of bitrix component based on OO approach (using class.php)

class.php

<?php

use \Bitrix\Main\Error;
use \Bitrix\Main\ErrorCollection;

class MySuperComponent extends CBitrixComponent
{

    const SEVERE_ERROR = 1;
    const ALARM_ERROR = 2;
    
    /** @var ErrorCollection */
    protected $errorCollection;

    public function onPrepareComponentParams($params)
    {
        // Checking params
        
        $something_is_wrong = true;
        if ($something_is_wrong) {
            $this->errorCollection->setError(
                new Error(
                    'SOMETHING_IS_WRONG',
                    // Add ERROR_CODE so as to set error type and process error of this type as you wish
                    self::SEVERE_ERROR
                )
            );
            // Use `return` if error is serious and it is useless to continue checking
            return $params;
        }
    }

    public function executeComponent()
    {
        if (count($this->errorCollection)) {
            /** @var Error $error */
            foreach ($this->errorCollection as $error) {
                $code = $error->getCode();

                if ($code === self::SEVERE_ERROR) {
                    // Show 404 for example
                } elseif ($code === self::ALARM_ERROR) {
                    ShowError($error->getMessage());
                }
            }

            // Stop component execution
            return;
        }
        
        // Continue component execution
        //...
    }
}