Arpeggiators typically work by taking a chord (typically from a keyboard) and converting it to a sequence. Since CV is inherently monophonic, there’s very few modules that take something comparable to a chord as an input signal. Keyboard modules such as the Pittsburgh KB1 or the Sputnik touch keyboard tend to have arpeggiators built in since they allow you to hold down several keys at once. The two modules you mentioned are basically sequencers with a preset number of sequences.
Arpeggios as a type of sequence are pretty easy to “emulate” on a sequencer though. Arpeggiators usually only have a few modes, such as up, down or up-then-down. If you simply have the sequence go in a single direction, or up and then down if you’re emulating the latter, then you’ll be in the ballpark pretty quickly.
If the notes you choose form actual chords, then you’ll sound even more like how a keyboardist would actually use an arpeggiator.
…actually, one of the easiest way to get an arpeggio is an LFO into a quantizer. Once it’s attenuated to only be an octave or so and matches the tempo of the song it’s a nice enough sound.