Why didnt recent events of the flash the time jump back one day and then rewriting things affect arrow too?
You have to look at time travel from the eyes of the person you traveled in time as the center of the event. The closer to that person you are the more the event of time travel will affect you. In Barry's case the only people affected would be the people that had interactions with him the day prior to the jump.
The Arrow had no interactions with him, so the jump would mean he would make the exact same decisions as before...nothing changed for him. Even Doctor Wells said Barry you must make the exact same decisions and do exactly the same things or you will change time.
As for the Flash helping. How would he get in touch with the Flash? Would Barry believe or trust him? Oliver Queen's decision to turn himself in, was the right move. His teams decision to try to free him was the WRONG decision. Unless the city has a death sentence, Oliver staying in jail until the city realizes he is innocent and they need him, would have been the most mature and responsible thing to do. The fact that he can't express that to his team shows he has bad leadership skills.