I'm just not a fan of using ARC (Audio Return Channel) to begin with. It has value, but it's horribly misunderstood, and it should be the last, "no other choice" option, rather than the first choice.
I should point out, that most 4K players have dual hdmi outputs, which means you can connect them the way you are doing it now. In that case, it works fine... except... you can't see any menus or info from the receiver on the TV. 4K players are really the only components that often have dual...
The receiver is designed to be the control center of the system. Not the TV. Everything should be routed through it whenever possible, because routing everything through the TV, while it can be done, comes with all kinds of problems and limitations. So, the disc player and streamer are...