Even though they finished with 3 fewer points, I actually rate the Arsenal of 2001/2002 above the Arsenal of 2003/2004, admittedly using subjective or more dubious reasoning.
I thought that they played more attractive football in 2001/2002, and they scored in every game (the only time that has been done in the Premier League era). Alongside City's in 2018/2019 they had arguably the best 'title charge' in the PL era that season, with 18 wins and 3 draws from their last 21 matches and 13 wins in a row to end the season, including away wins against each of the other 3 teams that finished in the top 4, Liverpool, Newcastle and of course Utd to clinch it at Old Trafford. It was impressive how they transformed their very poor away record in 2000/2001 to their outstanding away record in 2001/2002.
While they failed to beat Liverpool or Newcastle at home in the league that season, they did beat them both at home in the FA Cup, so domestically they beat each of the other top 4 teams home and away at some point during the season, while they failed to beat Utd in 4 attempts in 2003/2004 if you also include the Community Shield.