I have a 10 day old baby boy and we have been struggling to find a way to swaddle/wrap/use of sleeping bag for both day and night naps. We started with love to dream bags but have seen red nose recommendation and have decided to not use them anymore. During the day we normally just let baby sleep in His clothes with no bedding or wrap. But it is nights we want him to be more settled. Is it too late to try and wrap him? Should we be wrapping him? Or are we better off using sleeping bags with his arms out as he does prefer to use his arms/hands as a self soothing technique?

You can continue to wrap him using a muslin wrap,  instead of the love to dream bags, which are a form of wrapping/swaddling.
You can also use a sleeping bag with arms out instead of swaddling. Sleeping bags with arms out are great, especially when baby is rolling &/or resisting wrapping.
Important to make sure that they fit correctly.
https://rednose.org.au/article/what-is-a-safe-sleeping-bag

Some babies do not respond well to wrapping, so a sleeping bag is a good option early on.
These babies like to have their arms out & touch their face or suck on fingers….. as you have found
If you decide to continue wrapping, stop when he looks like rolling.
https://rednose.org.au/article/safe-wrapping-or-swaddling-when-to-stop-and-how-to-select-a-safe-sleep-bag