Arsenal's current squad is actually good, but not good enough to start winning, so I agree that Arteta must start renewing some of his players to be able to win something they haven't had for a long time.
I don't want to speculate on which players will be on the transfer list. However, if they have planned it, then I think they have already approached the players they want to bring in. Because they will definitely be fighting with other teams if they don't do it now. The competition in the transfer market is also tight if the player is in high demand by many clubs.