However, the luckless Gunners boss is now likely to be without all three of his first-choice engine room options for the trip to Tottenham Hotspur on September 15, as the suspended Rice and shoulder victim Merino are guaranteed absentees.
It was initially not all doom and gloom, as captain Odegaard shook off a knock in time for Norway's Nations League double-header with Kazakhstan and Austria, coming through the 90 minutes against the former unscathed.
The injury curse reared its ugly head again for Odegaard on Monday evening, though, as the ex-Real Madrid starlet suffered a nasty twist to the ankle against Austria and gingerly hobbled off the pitch with the help of medical staff.
Norway manager Stale Solbakken admitted that Odegaard's injury looked on the "bad" side, and even though the national team doctor described his sprain as "small", it would be a shock to see him involved on Sunday.
Last season, Arteta could have introduced Fabio Vieira or Emile Smith Rowe into Odegaard's place, but with the former being loaned back to Porto and Smith Rowe heading to Fulham on a permanent deal, his options are much more limited.
Here, Sports Mole looks at three candidates who could step into Odegaard's shoes for the North London derby.
Kai Havertz
The Kai Havertz midfield experiment at Arsenal did not go according to plan last season, but the former Chelsea man was being used in what is now the Rice role, as opposed to Odegaard's number 10 slot.
Havertz dropping back into that slightly deeper position - which he knows well from his early years at Bayer Leverkusen - would likely be Arteta's preference, although that could depend on the fitness of Gabriel Jesus.
The Brazilian is also occupying a bed in Arsenal's well-stocked infirmary due to a groin injury, although there is cautious optimism that he will be able to make the squad this weekend; whether he is fit to start is another question entirely.
However, Leandro Trossard, Gabriel Martinelli and Raheem Sterling are all viable options in the number nine position too, so Havertz linking arms with Thomas Partey and Jorginho is not beyond the realm of possibility.
Ethan Nwaneri
Ethan Nwaneri and Myles Lewis-Skelly are the latest two talents to be cherry-picked from Arsenal's famed Hale End academy, and despite his extremely tender years, the former would be a like-for-like swap with Odegaard in the number 10 role.
Nwaneri memorably benefitted from Odegaard's absence against Brentford in September 2022 to become the youngest player the Premier League has ever seen, making a late cameo off the bench after Vieira was given the nod in the captain's absence.
The 17-year-old's only top-flight involvement since has been another substitute appearance in the 6-0 hammering of West Ham United, but he had a direct hand in 14 goals in 15 Under-21 games last season - 11 of his own and three assists - and has been on the bench in all three top-flight contests so far this season.
If Arsenal are to avoid another youth exodus akin to the summer transfer window, trusting their academy starlets in North London derbies is a surefire way to go about it, although making your first Premier League start for Arsenal away to Tottenham may be too big a step for the 17-year-old.
Raheem Sterling
Ineligible to face Brighton & Hove Albion two weekends ago, having only just completed his last-gasp loan move from Chelsea in the early hours of the same day, Raheem Sterling is now primed and ready for his first appearance in red and white.
Thanks to his latest England snub, the 29-year-old would have had two weeks of uninterrupted training at London Colney by the time the derby rolls around, and there is no reason why he should not be in consideration for the role of Odegaard's lieutenant.
While most of his successful exploits have come from a wide position, Sterling has played a handful of matches as a number 10 - 16 according to Transfermakrt, including a couple in a Chelsea shirt last season.
Jesus making his comeback on Sunday could aid Sterling's hopes of a full debut; the pair know each other well from their time at Manchester City and could cause problems to a settled Tottenham backline with their chemistry and unpredictability.