While version 1.0.0.2 of Windows Shortcut Arrow Editor works well, the "new" in your search suggests you might be interested in up-to-date alternatives. Given that version 1.0.0.2 hasn't seen official updates in many years, here are several excellent modern tools compatible with Windows 10 and 11:

: Changes apply without restarting your PC.

: Choose "No Arrow" or "Custom," then click "Apply". Safety and Troubleshooting

If you are wary of downloading unverified executables or if the "Windows Shortcut Arrow Editor 1002" is difficult to find, you can achieve the exact same result manually via the Windows Registry. This native approach is entirely free and safe, provided you follow the steps carefully. Step 1: Open the Registry Editor

and allows you to apply changes instantly without a system reboot. Manual Registry Method (No Download Required) Windows Shortcut Arrow Editor - Winaero