I did recently design and build a clocking module that works with both banana jack gear (Serge tested as I have one, C-L should work… but awaiting a user to tell me so) - and the alligator patch points of Pulsar-23. It’s open hardware and open software: https://github.com/mzero/pulsar-buddy/wiki
Indeed, you should have protection, because someone (like, say, me) is going to accidentally mis-plug a hot output into your circuit and fry your Arduino if you are not careful … One of the lessons from my first prototype!
Current should not be an issue: Modular inputs are high impedance. They are sensing the voltage level, then don’t need (or want) to be driven by the current. Just have an output resistor (1kΩ) to ensure there is always some resistance.
However - what @barrford suggested is another way to go: If you want a wider range of CV, then you need to either have an op-amp (which will ensure micro current from the Arudino), or a transistor (what I did) to boost the signal level up. Of course, this in turn raises power supply needs: For an op-amp you generally need both pos. and neg. supplies (some need only pos. and gnd… but then the amplification is around half +V… which can be awkward and has its own design problems).
I’m actually pretty new to circuit design here myself - just about 6 months into it… but happy to help - DM me if you want to chat (text / audio / video) - and/or look at schematics.