In my opinion, Rodrygo should stay at Real Madrid, he should be more patient, the league hasn't started yet and it seems to me that the new coach is still experimenting with the squad to have a definitive formation and players who will always be the ones to start the game. He probably still wants to see what the best position is for Rodrygo and Viciniu Jr. because both of them haven't been able to score goals consistently.
I don't think the club is been fair or should I say Xabi isn't fair about his choice of players. We know he is a new manager and what to do his own style of games by using his own performance but just to ignore some certain players? It's really going to be tiring. You can't expect a player that has been featured in the Champions League many times to end up 4 times without starting, it doesn't add up but since it's working out for Xabi, he had no choice.
If at all Xabi hasn't been winning his game all this while then I will fault him but in this situation, Rodrigo knows what's best for him at this stage. He either stay and become use to the new style, I bet when Anceloti makes him his favorite, there were some players that weren't given chance and now the table has been turn around, is either he gave in to Arsenal that is having interest in him or remain loyal to Real Madrid until when Xabi need his service.