I have bad knees but no arthritis. Swimming and biking are the main 2 exercises ortho surgeons will recommend over and over again because they are low impact.
PP of an indoor rower is a great workout and much less impact than running, but depending on your pain, might not be a good option based on the motion. Worth a try, but cautiously.
Pilates would be an excellent way to get the strength you need while (most likely) reducing pain. Find a great studio and take some reformer classes. It is expensive but so worth it.
I know you want to focus on cardio but strength training is going to make a big difference in keeping your knees healthy and helping drop excess weight.