Arsenal are said to be interested in Kvaratskhelia and Kudus both. But I don't know if they are still willing to spend much more money now. Especially Kvaratskhelia's cost would be very high for them. Both of them are really skilled players so transferring even one of them would be quite beneficial for Arsenal.
I think Napoli's demand for Kvaratskhelia will be very high. There is no release clause for him and I think they would want 100 million euros minimum for him. Therefore going for Kudus might be better if they don't want to splurge on a player again like they did with Rice.
As I said before that Arteta is still following the transfer window this summer, but I have not read for the rumors linking Kvaratskhelia with the Gunners. IMO, I'm not sure if Arsenal really need Kvaratskhelia's services. because Arsenal have several players who occupy the position of this player from Napoli. So, it's highly likely that this is just a rumour.
I also read a few days ago a report from Football transfers claiming that Mohammed Kudus has expressed his strong preference to join Arsenal over Chelsea. Arsenal may now be his club of choice, but the scenario is they have to sell a few players to raise funds. To be honest, I don't really know Mohammed Kudus' style of play. but if you look at the statistics and talent, it seems that this Ajax player has the advantage of being able to play in various positions. it could be, if Arteta and Edu are really interested in this player from Ajax.
For me, as a Gunners fan, what they need is a goal getter. but we'll see, whether Arsenal will bring in other newcomers to deepen their squad, it will be interesting for us to follow.