The Bournemouth loanee was ineligible for Wednesday's 5-1 EFL Cup win over Bolton Wanderers, where 16-year-old Jack Porter made history in goal with David Raya and Tommy Setford also out injured.
Arteta has conceded that he does not know whether Raya will be back in time for the weekend, but with Paris Saint-Germain on the horizon, the Arsenal boss may err on the side of caution and start the experienced Neto in between the posts after Porter became the club's youngest-ever starter in midweek.
The Gunners are also waiting to learn whether Jurrien Timber and Myles Lewis-Skelly's knocks will settle down in time for the weekend, but Martin Odegaard (ankle), Mikel Merino (shoulder), Takehiro Tomiyasu (knee), Kieran Tierney (hamstring) and Oleksandr Zinchenko (calf) are definitely out.
Neto ought to be offered protection by the familiar pairing of William Saliba and Gabriel Magalhaes, while Ben White should be fit enough to join the duo and Riccardo Calafiori in defence after being rested in midweek, having played through an injury at the Etihad.
Kai Havertz should be tasked with filling Odegaard's shoes once more, as Thomas Partey and Declan Rice complete a physically intimidating Arsenal engine room, where Jorginho and two-goal Ethan Nwaneri will make way.
Leandro Trossard's return from suspension will surely see the Belgian come back in on the left, but Bukayo Saka and Gabriel Jesus should retain their places, as the out-of-sorts Gabriel Martinelli accepts a substitute role again.
Arsenal possible starting lineup:
Neto; White, Saliba, Gabriel, Calafiori; Havertz, Rice, Partey; Saka, Jesus, Trossard