You can always separate that part of the code later into a package of it's own, and avoid having to create a separate repository for that small code part. Doing this would probably mean you create a separate namespace for this library, keep it separate in the directory structure (you know you can have more than one key-value-pair for PSR-0 or PSR-4 autoloading in your main composer.json
), and when the time has come, you move the code into a package, also split the autoload definition (i.e. delete the library autoloading in the main package and add an appropriate version of it into the new Composer library).
On the other hand, the question is how keen you are grabbing all that development history later if you do separate this library into a new Composer package? Why not start with a dedicated repository right now? But even if you want to have both, Git has a tool for this: Detach (move) subdirectory into separate Git repository