The main advantage of a VTVM over a modern DMM is the 1 megohm resistor in the probe. This isolates the reactance of the probe cable or wires from the point being measured. This is important for higher impedance nodes that may have AC voltage on them, such as an un-bypassed cathode in a tube amplifier. The reactance of the probe cable can affect the high-frequency performance: in worst case, that could cause oscillation and shift the DC voltage greatly. This is not important when looking at a point with only DC, such as the power rails.
I have never seen such a probe resistor on a digital device, but one can be improvised easily (this will change the voltage calibration, but the math is easy).