Is it possible?
It is a bit synthetic 
but for sure yes.
If you have a separate home partition it will be easier, because you will reuse it in the new installation.
If not, you could save everything you need elsewhere, external disk or other partition, and restore it after.
As regards how to do it, this depends more on what you have now.
I'm sure there are many guides on the internet.
I wouldn't foucs on arch because the installation is too different.
I just picked up one related to manjaro.
Of course, it is useful for the logic and steps in general, but some steps should be different, eg btrfs instead of ext4...
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Yes. Easily. Just copy your /home folder, dotfiles, and packages.
Look at post #13:
https://bbs.archlinux.org/viewtopic.php?id=56601
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Pretty simple. Open Garuda Assistant and click on "Reinstall all packages" 
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Before we talk about if it is possible or not, I think it would be good if you would explain why you want to reinstall. For example, if it is to fix an issue, many solutions here would just bring the issue along.
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