So far Arsenal has gone through several matches without Saka and Arteta still able to maintain Arsenal performance without any problem because in premier league Arsenal still consistent to pursuing Liverpool and in champion league too Arsenal can finish at top 8 and automatically to advances to the round of 16
But indeed the return of Saka could be a good news because he is important player for Arsenal but i don't think he will return in the near future because Saka still not fully recover and according to the prediction of Arsenal medical team Saka has possibility to return to play on next month
Besides Saka Arsenal too have a good news because their defender Ben White has been fully recover as we all know he is got long term injured and not playing since November but seem he might be will available when Arsenal meet Leicester this weekend
This is why I am sure Saka returning won't matter much. They didn't do terrible without Saka, so they saw that they do not need him all that much, sure it's cool to have him, but not like they were losing games all the time when he was out.
Plus, Liverpool is doing awesome right now, and Salah is doing amazing as well, so that means as long as Liverpool keeps doing this great, we are not going to see Arsenal win, no matter who they have. Arsenals fate is not based on what Arsenal does, they can win all the games, their fate depends on Liverpool and how they do, if they do well then we are not going to see Arsenal catch up. This is why no matter if Saka returns or not, we are not going to end up seeing Arsenal win, as long as Liverpool stays great.