The silver fern sat out the women's WorldTour last season after Georgia Christie's victory but was worn the previous year in the major European races by Georgia Williams (Mitchelton-Scott).
Hayden Roulston was the last road racer from the men's WorldTour in 2014 to go black and white themed.
Archbold broke down several times in a post-race interview, first acknowledging it was hard to chase down his mate George Bennett and upon reflection of overcoming a broken pelvis in 2016 at the Tour de France.
"I was just so happy for George riding out there and it hurt me to ride him down… but after the last three years I've had I really needed this," he said as the tears started to flow.
Despite spending half the 174km race in Cambridge away, Bennett was caught by Archbold in the final two kilometres, his second place matching his final placing in the time trial behind Hamish Bond.
"In the end I wasn't good enough, Bennett said. "There was nothing I could do. They caught me with a couple of km to go and my glutes were giving out by then."
"I couldn't sit down or do anything. Disappointed, but on the other hand Shane won, he's a good friend of mine."
Fisher-Black broke into tears as she crossed the line in Cambridge, winning a three-up sprint against Ella Harris and Teresa Adam after the trio hauled in Kate McCarthy with around two kilometres to go.
"I’m so proud of having won the title," Fisher-Black said. "It’s my first title and it is amazing to have succeeded today.
"We had a plan going into the race, but as is often the case in cycling, it didn't quite pan out the way we had anticipated. However, in the end, the legs did the talking and I was able to take the title.”
Runner-up Harris, on an antipodean summer tear since donning the Canyon-SRAM colours and winning Stage 2 of the Herald Sun Tour, still gets to wear the silver fern after taking out the time trial title over Fisher-Black's team mate Mikayla Harvey and Fisher-Black.