The problem is that you are using the component input to the M1 and it is not seeing a video signal. It therefore assumes that your TV provider has implemented HDCP, which will disable the component output if the HDMI is being used. So the usual solution is to disconnect the HDMI cable and use component cables to connect the Slingbox to the TV.
As you say, you cannot do that. So first thing you need to do is simply disconnect the HDMI cable and confirm that it is HDCP that is causing the lack of video. If you still don't get a video signal then you have a different problem that needs fixing. Once that is fixed you may be able to use the HDMI cable to the TV and component cables to the Slingbox. If it does turn out to be HDCP then your only option is to use the composite (yellow/red/white) output from the Cisco box (I assume it has those outputs>) and accept that you will have to Sling SD and not HD.
I installed the new M1 up to the point when it searched for cable signal with the Cisco RNG200N, the fault code directed me to disconnect the hdmi from the cable box and install a second set of a-v cables directly into the tv but the Samsung TV does not have any a-v inputs to allow this step, only hdmi inputs.