Yes the ARB will clear this tow hook. Note that you will be using the same holes, on the passenger side the hole is threaded but on the drivers side it is not (holes are in the same spot as passenger side).

For the drivers side, get some grade 8 nuts/bolts (slightly longer bolts than stock) and work the bolt through the frame (using a string to not lose it). There is a slot on the top side of the frame, about 12" toward the middle of the truck. The nuts will go on the outside.

For the passenger side use grade 8 bolts, same length as stock.

Do both sides, even with the ARB on these tow hooks will probably be the first thing to hit on some of the obstacles in Moab.