I have watched Arcane, and while the animation is really exceptional, the plot and characters are less impressive (it's a prequel, so it suffers from a certain level of prewriting). Also, I don't think you can really compare the two, one is a series of late cyberpunk think-pieces wrapped up in a cop-drama format that were in fact made to be relevant to the modern world they were released in; the other is an artistic passion project of a steampunk high-fantasy origin story to a mediocre MOBA game made by a shitty company. But also purely in terms of animation style they are vastly different beasts, made with different tools, and made nearly 30 years apart.