This situation could happen to Arsenal. and as you said, if Arteta wants to be safe, they have to be ahead by more than 1 goal. It will be quite difficult if Munich is in top form.
There is still preparation time, anything can happen, but I hope both teams are at their best when the game starts.
I would say this match is very difficult to predict. There is no doubt that the Bayern Munich team is more experienced than Arsenal in the Champions League. But Arteta's Arsenal are in very good form right now. Arsenal are currently at the top of the Premier League table. Beating such a team is definitely going to be a tough challenge for Bayern Munich.
Arsenal's past record against Bayern Munich on the Champions League platform is not good. The teams met twice in 2015 and 2017. Bayern Munich won all three matches by a big margin, Arsenal won one match 2-0. Bayern Munich will definitely want to continue this trend. But if none of Arsenal's key players suffer from injuries, and if Arsenal can play with their full squad, Arsenal have the potential to beat Bayern Munich this season.