You are over-thinking. What you want to do is simpler than you realize. Playing the same notes low on the neck versus playing the same notes high on the neck sounds the same to the listener. The difference is not called playing two different versions. The difference is not called two different arrangements. It is called playing the same notes in different positions or playing the same notes lo on the neck versus hi on the neck. Arranging is different. Arranging would be changing the pitches of the notes so that you get two versions that both sound different to the listener.
You merely need to learn to read music, and I find it best to never look at tabs. Learning whether to pluc a note lo or hi on the neck is trivial. It is just an incidental part of figuring out how to play a piece.
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