How to fix down arrow on my MacBook Pro desktop?

Have anyone seen this weird down arrow on your mac desktop recently? It didn't do anything and stay on top of whatever app that is currently open in that desktop. If I switch to another desktop it's gone but once I return to the original one, it's still there. This arrow is not my mouse cursor.

My mac was recently upgraded to 15.1.1 and this arrow appeared a couple of days ago. A google search doesn't render useful information. I saw many similar questions on this site went unanswered dated from 2020. Answers from Reddits don't apply either because the arrow isn't tied to chrome.

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Does anyone have any clue on what this is and how I can get rid of it? Many thanks!

[Re-Titled by Moderator]