Do you know any research regarding so-called "scroll arrow" used for vertical scrolling?

Currently, I started to be concerned about the "scroll arrow" within the interface. The scroll arrow indicates that the first visible section it's not all and it's more content to scroll. I was trying to find any research about it. Is it bad or good habit? In the example below the scroll, the arrow indicates that there are more options to pick from withing a form - ( just for an example ). Personally I believe that's rather not a good solution. I'm curious about your point of view? Any insights/research?