Do USB Composite devices show up as one, or multiple devices
Here's what my device manager looks like when set to "View -> Devices by connection":



As you can see, the generic "USB Composite Device" and "Sierra Wireless HSPA Device" each get broken down into distinct endpoints. The Sierra Wireless device has multiple CDC endpoints and a network adapter.

In the normal view of device manager, it just shows the endpoints and not the intermediate composite devices or hubs.

However, if you have a composite device but have not installed its driver, it shows as one device of type "unknown".