elastic potential energy turns into the kinetic energy of the arrow
1/2 k x^2 = 1/2 m v^2
167 * 0.49^2 / 0.071 = v^2
v = 23.8
This will be the initial velocity for the projectile motion.
At the highest point, V_y = 0. Initial V_y = 23.8 * sin 45 = 16.8
V^2 - V_i^2 = 2 a d
0 - 16.8^2 = 2 * (-9.8) h
h= 14.4 m