No, the "VT40" comes from the SVT40 - and it is a variation of that which didn't come around until 1943 afaik (not able to be more specific about the date, though production was halted in mid 43). It was reputedly not very reliable and totally uncontrollable when used full-auto due to recoils...
Edit: I stand corrected. The interwebs say "The AVT-40 automatic rifle was accepted to manufacturing in May of 1942 and the first weapons came out of production line in July of the same year", so it's just as feasible as the Mkb.42.