Does AN 3.47 refer to only single standalone sankhara?

This question concerns the proper understanding of AN 3.47:

“Mendicants, conditioned phenomena have these three characteristics. What three? Arising is evident, vanishing is evident, and change while persisting is evident. These are the three characteristics of conditioned phenomena.” AN 3.47

It might have been suggested in other questions that this sutta is referring only to non-composite sankharas. That is, for composite phenomena - like a chariot - that arising, ceasing, and enduring are not evident. Is this correct? Can the arising, enduring and ceasing of a chariot not be known because it is composite or made up of parts? If so, what would be a good example of a non-composite sankhara that this sutta *would* be applicable to? What non-composite conditioned phenomena can rightfully be said to arise, endure and cease? Does anyone have an example?