After PDF was annotated, saved and PDF closed I want to reopen PDF but I can not anymore edit it, can not select annotations, arrows. Any workaround?
I am not really sure, but if you could at least open the file with Preview app, there might be an option to revert to previous version from the File menu.
Once you save an image in Preview the changes you have made become part of the image - i.e. they can no longer be edited. However, Preview does store all previous saved versions of a file. To restore an image to a previously saved state (i.e. undo recent changes) choose
File > Revert To > Browse All Versions. You can then scroll through all previous versions of the image file & choose one to restore. Best analogy of this functionality is the way Time Machine works.
I have found annotations in Preview to be unpredictable. You could try opening the PDF in Adobe Acrobat if you have it—you'll probably find that each of Preview's fancy looking annotations are also there as an editable comment.