Is there an operation in Unity Pro that replaces the Concept M1HEALTH function block?

No.The Concept M1Health function block was used to monitor local IO and distributed IO Bus servers.All of the same functionality can be reproduced in Unity Momentum with System Words.
Local IO Base can be monitored using %S119.
IO Bus Health can be monitored using %S118.
Server Module Health can be monitored using %SW128, %SW129.

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