We present combined evolution of morphological and stellar properties of galaxies on the two sides of z=2 (2.0<z<4.0 and 1.5<z<2.0) in CDFS, with ground-based spectroscopic redshifts. We perform bulge-disc decomposition on their images in J and H filters, from the 3DHST Legacy Survey obtained using HST/WFC3. Combining morphological information with stellar properties, we provide a detailed account of the formation/growth of discs and spheroids around z~2. The fraction of 2-component (bulge+disc) systems increases from ~46% for z>2 to ~70% for z<2, compensating for the fall in population of pure discs and pure spheroids. All quiescent outliers of our full sample on the main-sequence, are 2-component systems, belonging to the lower redshift range (z<2). The doubling of stellar mass of 2-component systems and decrease in their SFR by the same factor, suggests that mechanisms involved in morphological transformations are also responsible for the quenching of their star formation activity. Interestingly, while there is substantial increase in the size (~2.5 times) and mass (~5 times) of pure discs, from z>2 to z<2, pure spheroids maintain roughly the same values. Additionally, while bulge hosting discs witness an expansion in scale length (~1.3 times), their bulge sizes as well as bulge to total light ratio see no evolution, suggesting that z~2 is pre-dominantly a disc formation period.
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