A hit song for a hit TV show! Start with the melody arrangement. Always start with the melody when learning a new tune. Try a few licks then take a shot at the Scruggs arrangement. Remember to use your Tunefox tools to practice it thoroughly and efficiently. It's pretty common for banjo players to learn a lot of leads and neglect their backup playing. DON'T DO THAT! Whenever you are playing along with others or with a record you will play backup more than lead. It's a crucial skill so put the work in and get comfortable with it.
With each arrangement make sure you don't get satisfied with just playing it one time through. It'll take time to get to that point, but keep putting in the extra effort to be able to play an arrangement multiple times through. This is the kind of practice that will really help you up your game, if that's what you're looking for.