Like others said it depends on loot table. If it has all rarities up to arcane then it is possible to reroll for arcane (eggzavier is a good example). If arcane is in its own loot table then nope, reroll won't happen.

Here's old but good post where dev explains how luck reroll works -
https://www.spacetimestudios.com/sho...drop-from-mobs!