You don't need an ESR meter to check electrolytic capacitors, just an AC function on a digital voltmeter/scope, and if you have a any suspicion that an electrolytic cap is bad by a high level of AC across it, your best troubleshooting strategy would be to use alligator clips (or just temporarily solder) a known good one across the suspect bad cap to see if it removes the AC voltage drop across it or else see the circuit starts working properly. Always match the polarity marks and attach the test capacitor with power off.
The tell-tale sign that an electrolytic cap is bad is the flat top of the cap becomes dome-shaped or you can see leaking electrolytic fluid from the base. Most usually, a cap is a good cap if it isn't open circuited and the dome is flat, and you can further test it for a large AC voltage across it. If there is, the capacitor may be open or have a large ESR, so bridge a new one across it to see if this fixes the problem. Visual inspection, bridging a new cap and a multimeter AC test/scope reading best tells you that a electrolytic cap may be bad in a power supply or other circuitry, and this is a smart, time-saving and convenient to troubleshoot and make repairs because you can quickly check a capacitor even without unsoldering it from a circuit.
I've repaired electronic equipment for tens of years and the idea is get the job done quick, proper and to make money, not wast time, effort and money on equipment you will don't need.
I haven't ever purchased either a capacitance meter or an ESR meter to accomplish my repair work.
Having spent the money that would be wasted on an ESR meter and a capacitance meter, I instead invested in buying capacitor assortments for substitution, equipment repair and also for my experimental designs.
An ESR meter or capacitance meter may sometimes tell you a capacitor is bad, but bridging a suspect capacitor with a known good one fixes the problem, and all it is necessary to complete the repair is to then replace the defective part with a new one, which is already on hand.
BTW, I built my own capacitance meter using a PIC chip that automatically reads capacitor values by using the test capacitor as an osicillator frequency determining component, and the so period of oscillation measured then yields the capacitance value. I have sometimes come across capacitors with unreadable, unusual markings or myterious color codes and that is why I've bothered to make this cap meter one of my DIY PIC projects.