In a large mixing bowl, lightly beat two of the eggs. Incorporate the cooked rice, grated Parmesan cheese, melted butter, optional cheese sprinkle, half a teaspoon of salt, and a quarter teaspoon of black pepper. Mix the ingredients thoroughly, then cover the bowl and refrigerate the mixture for 20 minutes.
Preheat your air fryer to 370 degrees Fahrenheit (187 degrees Celsius) as per the manufacturer’s instructions.
Form the rice mixture into balls, each approximately 1 ½ inches in diameter. Create a small indentation in each ball and insert a cube of mozzarella cheese, then reshape the ball to enclose the cheese.
In a shallow dish, combine the panko bread crumbs, Italian seasoning, and remaining salt and pepper. In a separate bowl, lightly beat the remaining egg. Dip each rice ball first into the beaten egg and then roll it in the bread crumb mixture to coat evenly. Arrange the coated balls in the air fryer basket and lightly spray them with cooking spray.
Cook the arancini in the preheated air fryer for 6 minutes. After this initial cooking time, increase the temperature to 400 degrees Fahrenheit (200 degrees Celsius) and air fry for an additional 3 minutes, or until the balls are golden brown and crispy.