PCBs, PCB components and PCB assemblies are provided with mounting configurations and structures for reducing Z height dimensions of the PCB assemblies and, in some instances, for improving thermal conductivity of the PCB components and assemblies. The active illumination device or other PCB components (e.g., camera modules and LED packages) are affixed to a mounting substrate that has a top surface that is physically and electrically mounted to a bottom surface of a PCB, with at least a portion of the active illumination device being concurrently positioned within one or more holes in the PCB. A thermal interface in contact with at least the mounting substrate can also be used for dissipating heat from the PCB components and PCB.