While the size of the dot-cursor can be altered, you cannot change its style from a dot (representing the “touch” point) to an arrowed pointer.
Available information about customising the Mouse/Trackpad pointer can be found here:
Use a Bluetooth mouse or trackpad with your iPad – Apple Support
Apple do invite submission of comments and feature requests via its Product Feedback portal. If you would like to see additional features and capabilities in a future version of iPadOS, this would be the appropriate channel through which to make such a request. For iPad and iPadOS:
Feedback - iPad - Apple