Wrong. The arrow did not wear off, if it did then Yhwach would've came back, but he didn't. We can see every time he uses the Almighty, he has multiple Irises, but when Ichigo killed him, he only had one iris in his eyes. It narratively doesn't make sense for the arrow's powers to wear off and then show Jugram's betrayal later when he can just lolnope the cause of his death.