I think you will need to use arcpy, or a complicated Modelbuilder model.
Example which you will have to adjust (can with bad while
conditions run forever):
import arcpy
arcpy.env.overwriteOutput = True
fc = r"C:\GIS\data\testdata\ak_riks.shp"
bufferarea = 400000000 #Goal
radius_increment = 100 #For each iteration increase buffer distance with this
good_enough = bufferarea*0.1
arcpy.MakeFeatureLayer_management(in_features=fc, out_layer='lyr', where_clause="{0} = '1487'".format(arcpy.AddFieldDelimiters(datasource=fc, field='KOM_KOD'))) #Im selecting one polygon to test with
arcpy.CreateFeatureclass_management(out_path='memory', out_name='tempfc2', geometry_type='POLYGON', spatial_reference=arcpy.Describe(fc).spatialreference) #Create temp output fc
icur = arcpy.da.InsertCursor(r'memory\tempfc2','SHAPE@') #Insertcursor to insert new rows into it
dist = radius_increment
with arcpy.da.SearchCursor('lyr','SHAPE@') as cursor:
area_diff = good_enough*10
current_area = 0
for row in cursor:
while area_diff>good_enough and current_area < bufferarea+good_enough: #Buffer with increasing distance until these conditions are met. You should/have to adjust this line. To get optimal resultat without running forever
buffer = row[0].buffer(dist) #Buffer
buffer_diff = buffer.difference(row[0]) #Erase original polygon from buffer
current_area = buffer_diff.area #Find area
dist+=radius_increment #Increate buffer distance for next try
print('Success!')
icur.insertRow([buffer_diff])