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In "The Outrageous Okona," Captain Picard sends Worf to retrieve Okona. Okona is with a female crew member, in her quarters. Worf shouts at Okona to come, now, and that "he'd like that, but he has his orders."

Okona states that, perhaps, "some other time" (it may be done).

Is Worf suggesting that he would have preferred to not "arrest" Okona, but his hands are tied in the matter? Or is it something else?

The show script offers a pretty good insight into both Worf and Okona's thought process. Okona is a lover and a fighter. He'd like nothing more after a good (ahem) session with a beautiful lady than to have a good punch-up with someone he considers a worthy adversary.

Worf recognises that he's spoiling for it, but declines.

OKONA: I'm sure it can wait a few minutes.

WORF: Now!!

Worf steps face to face with Okona and sets himself. Okona tightens
and seems to coil just a bit in preparation. The two of them face in a
stand-off understanding each other. Worf accepts the challenge and
declines it at the same time.

WORF: I'd like that, but I have orders.

OKONA (nods): Some other time then.

The tension is ended. Worf motions to the security officers. They step
on either side of Okona and leave him no choice but to step away from
his embrace. He offers her a joking farewell as he is led away.

You're right in that Worf's hands are tied by his orders and his duty but not that he would have preferred to not "arrest" Okona - Worf lives for that stuff and would have done it anyway - battle is a bonus.

Worf busts in on Okona in the middle of a tryst.

WORF: You will come with me to the main Bridge.

OKONA: I'm sure it can wait a few minutes.

Worf has no patience for Okona and is aggressive.

WORF: Now!

Whilst quite calm, we see Okona square off with Worf and gets, pretty much, right in his face. Okona doesn't like Worf's acting tough and trying to push him around and is quite prepared to knock Worf on his Klingon ass if he's up for it.

WORF: I'd like that. But I have my orders.

Worf really doesn't like this guy and is saying that he would very much like to go a few rounds with Okona and would love nothing better than to to fight but his orders are to take Okona to the bridge - not go one on one with him. Okona understands and accepts that, if he did anything, he might get a couple of punches in but he'd merely be restrained by Worf and the security officers and then taken to the bridge. Okona wouldn't get the one on one fight with Worf that he wants and so concedes.

OKONA: Some other time.

In summary, I confirm Valorum's answer that punching (or other unfriendly actions) was the definite implication. This may have been implied by the unfriendly nature of a growl. However, later on we gain some even stronger evidence of this intent.

The Outrageous Okona is the 4th episode of Season 2. Actually, when Worf utters the line (24 minutes into the episode)...

I'd like that

He starts growling, but then converts the growl into that statement.

In the eighth episode of season 2, we find 17m30sec and 42m30sec equates a low growl as an invitation to get into a physical conflict. As an in-universe answer, Klingon culture is not likely to have changed dramatically over that short period of time, so Worf's growl (before the stated words) was a clear indication that he was considering a fight.