So I started by saying that $$y=\arcsin\left(\frac{x-1}{x+1}\right)$$
Then you could say that $$\sin(y)=\frac{x-1}{x+1}$$
Then calculating $\cos(y)$ with the trigonometric identity, I found the following:
$$\cos(y)=\frac{x-1}{2\sqrt{x}}$$
If I then calculate $\tan(y)$ and take the inverse of that I hoped to find the right hand side, but instead I found
$$\arctan\left(\frac{x-1}{2\sqrt{x}}\right)$$
Now I used wolfram to check if they are equal and it gives a solution so I'm guessing an intersection at $x=1$. There also is an extra question that asks for what real value of $x$ this expression makes sense.

You found that $\sin(y)=\frac{x-1}{x+1}$. After that you can take $\sin$ of left side. You get $$\sin(2\arctan{\sqrt x}-\frac{\pi}2)=\sin{(2\arctan{\sqrt x})}\cos{\frac{\pi}2}-\cos{(2\arctan{\sqrt x})}\sin{\frac{\pi}2}=\\-\cos{(2\arctan{\sqrt x})}=\sin^2{\arctan{\sqrt x}}-\cos^2{\arctan{\sqrt x}}=\frac{x}{1+x}-\frac{1}{1+x}=\frac{x-1}{x+1}$$
From ther we have $\sin y=\sin(2\arctan{\sqrt x}-\frac{\pi}2)$ and since the codomain of both functions is $[\frac{-\pi}{2},\frac{\pi}{2}]$ we can say $\arcsin{\frac{x-1}{x+1}}=2\arctan{\sqrt x}-\frac{\pi}2$.