Short answer, yes.
If you open the
projectiles_tables using FPM and look at the fire arrow Projectiles IDs, the third to last column (marked as unknown) has the value "fire_arrow_trail" written in.
You simply need to replace the "fire_arrow_trail" with "none" and then save.
Now the long fire and smoke trail will be removed and leave just a tiny (and more realistic) flame behind the arrow.
It is possible to remove this as well but then the fire arrow looks exactly like an ordinary arrow which isn't right.
Have a go yourself just for the experience but if you have trouble then I uploaded the finished pack file for you here:
Attachment 162425
Hope it improves your FPS.
Regards, Ihre Ausfuhrung