It depends on how Arsenal can improve next season, if they can improve significantly enough then they will be able to go even further in the Champions League. However, on the other hand, if they cannot improve their performance next season, then they will not be able to do much and perhaps qualifying from the group stage will be their achievement, after which they will be eliminated again by the fierce competition in the Champions League.
The team that will join their group is also something that will determine, if they join a relatively easy group, then maybe they will be able to easily qualify for the knockout rounds, but if they join the hell group it will be a challenge for them. But the draw is luck, they definitely hope they can be in a relatively easy group.
Arsenal's performance is unpredictable because they always start the season perfectly, but at the end, they always mess everything up in the Champions League. I can’t confidently say how their performance will be, but I can see that many teams are preparing for the next season, so they can perform very well. I believe Arsenal are also doing the same thing so that they will be a wonder next season.
Although I know that only a few teams will be a challenge for them since they are not, that should be underrated too, but still, Arsenal always end up the season with nothing, which is always a bad result for them. But maybe next season will be a better season for Arsenal, like other seasons have achieved many things before.
Arsenal's performance has fluctuated over the years, but they have yet to win the league or Champions League. Arteta must improve the team's performance in the upcoming season to help them win the Premier League. In the previous two seasons, Arsenal performed well and thought they would win the league, but Manchester City defeated them and won the Cup, and again last season. everyone thinking they will do well and win the trophy and they still perform poor and Manchester City get opportunities and win them again, So he will have a difficult time winning the Champions League since they cannot compete with the Premier League and must first win the league title before having a chance to win the UCL. They still have a long way to go, and based on their current performance, I don't believe they are ready to win the UCL and Premier League. Let's see how Arteta performs next season if Arsenal improves and has a chance to win the league competition.