Arrizabalaga, 25, was dropped for the second time this season last week when Chelsea beat Wolves to secure their place in the Premier League's top four.
Winning a trophy in his first season in management would also be a huge bonus for Arteta to prove he can restore Arsenal's former glories.
He is set to decide his future after this weekend, and Lampard said of the Brazilian winger: "I've known Willian for many years now, first as a player and now as a coach".
"I certainly haven't [targeted him as a weak point]", Lampard told an online media conference.
The Gunners will be desperate to finish a lacklustre and transitionary season with a major trophy, but it's also Chelsea's best chance of silverware this term, unless the Blues can successfully overturn their 3-0 first-leg deficit away at Bayern Munich in the Champions League.
Arsenal head coach Mikel Arteta was recently asked if he would start Emiliano Martinez in the final and he claimed that the Argentinian global had earned it but he will however possibly be happy that Bernd Leno will also be available as all managers always want all positions to atleast have two good players.
Asked if that was the case, Lampard said to Football London: "No, absolutely not".
"I never accepted I am a back-up, especially if you believe so much in yourself, and when people say, "You are the back-up" it hurts your feelings".
"We're preparing for Arsenal with him in a team, I know how good he can be and I know what a big player he can be for Arsenal".
The showpiece at Wembley will be played without supporters allowed to attend due to the coronavirus pandemic.
"It will be unusual to have no fans".
"So this will not mean all of a sudden we're back in that picture, but it can be a nice, small step when you consider where we want to get to next year". "The fact we are used to it means you can focus on what's in front. If you wear the armband and lift that cup, that will help".
"I probably will [give the players a special message], but I haven't done so far".