ARC is more performant but can introduce memory leaks via circular references, which is probably not a big problem for short-lived scripts anyway.
Perl uses ARC with no tracing GC, so you have to handle cycles yourself: https://www.perlmonks.org/?node_id=1173079
TCL uses ARC, and apparently doesn't need a tracing GC because it is impossible to create cycles in it: https://wiki.tcl-lang.org/page/Garbage+collection
Yes, PHP has reference counting, but it also has specific process that kicks in to clean up circular references.
Whole class of problems around multi-threading, mutexes, dead locks etc. are really foreign to PHP developers.
ARC is more performant but can introduce memory leaks via circular references, which is probably not a big problem for short-lived scripts anyway.