Thanks Stephen. After running the vacuum on the table it worked.
inspection_development=# explain analyze select item_code from inspector_tool_components where company_id = '7881ff2e-0557-4734-9da8-2d33072ff1ef';
QUERY PLAN
-------------------------------------------------------------------------------------------------------------------------------------------------------------
Index Only Scan using inspector_tool_idx4_1 on inspector_tool_components (cost=0.41..57.87 rows=1226 width=8) (actual time=0.044..0.626 rows=1232 loops=1)
Index Cond: (company_id = '7881ff2e-0557-4734-9da8-2d33072ff1ef'::uuid)
Heap Fetches: 0
Planning time: 0.190 ms
Execution time: 0.778 ms
(5 rows)
