There he comes.
There come his friends.
are idiomatic enough that while gramatically there's nothing wrong with reversing the order, it would sound completely alien to do so.
Since you combine the two, 'pronoun and something else', the latter case becomes our thing.
The most common and best variant would be:
There come his friends and he.
When mentioning a list of people, you put the single pronoun, 'I', 'he' etc at the end (it's a style/etiquette thing, not actually grammar). And that simultaneously closes the can of worms about choosing whether to use 'come' or 'comes' here. (the can of worms for a reference: 1 2 ) - the first element of the list is plural, so we use the plural form of the verb without doubt.
You might encounter variants:
There come his friends and him.
Actually grammatically incorrect but common enough it may be eventually accepted into grammar. (If you strip the rest of the list, the subject should match with the verb. "There comes him" is obviously wrong.)
There comes he with his friends.
This bundles the group into a singular entity, so it becomes singular.
There come[s] Muhammad and he.
And here we have the aforementioned problem with plurality. Properly grammatically correct is 'There come Muhammad and he' but it sounds slightly unnatural so you might find 'There comes Muhammad and he' as well. 'There come he and Muhammad' sounds totally unnatural despite being formally grammatically correct. It's a mess. Just bundle them with 'with' to avoid the headache.
Here comes Muhammad with him
Here he comes with Muhammad.