3 hours ago, codexgigas said:Is there time to create fire arrows before the Old Troll wakes up?
Before the Old Troll wakes up? Probably not. That's something you'd need to prepare ahead of time, with the proper materials. If you rush in the crafting, you might unbalance your arrows (disadvantage on attack rolls with them).
BUT, if you want to make them for the future, you certainly can! Over at least a short rest, you can combine strips of cloth, string, and oil (or alcohol) to make the arrows without risk or penalty. So, unless you have those materials now, fire arrows are a no-go.
You could always try lighting your normal arrows on fire, but... well, that might backfire on you (pun intended).