Technically not, but zero latency is never a thing anyway, by the time you hit the note on the guitar until your ear picks up the response from the amp there's a delay there, too. It's smaller, but my point is, the latency can be negligible with a good audio interface.
Can you play with zero latency with a VST though?
Unless your ears are basically sonars you won't be able to tell a difference between a Kemper or Ax-Fx and the amp+cab combo it's modelling. I personally use Bias FX 2, which is a much cheaper alternative just on PC as a VST, and it is excellent in its own right. The tone of my favourite amp on all three is amazing (I'm talking about the Plexi of course). I don't think there's much stigma anymore unless it's among older folks. Most pros in my age group own a Kemper or Axe-Fx, or both.
Yeah I've heard a lot of good things about the Kemper. There's stigma about using a modeller, but honestly who cares when the while point is the tone.
The Tonemaster simulates the end result of the tone, but it's not exactly the same. I personally think the Kemper profiler is much better at matching this tone, very expensive of course but if you have that much it's definitely worth it. Depending on what you want it for, going with an alternative might be a better choice. For example, as the previous post mentioned, this amplifier is HEAVY (~30kg). Definitely not something you want to be hauling around.