Is there a way to dynamically update a field in the attributes table? I have a field for URL which I want to automatically populate anytime a new record is created and a unique ID is provided for that record.
ArcGIS Pro - use Attribute Rules
ArcMap - you can use the Attribute Assistant
https://solutions.arcgis.com/shared/help/attribute-assistant/
These are out of the box, but there are other ways to achieve the same, like to write you own ArcObjects tool, or use Database Triggers, but those will require advanced programming knowledge.