Your title says "Modern English Bible", is this a singular version that you have in mind, or "all modern versions"?
The "Textus Receptus", or "Received Text", is only a "version" of the Holy Bible, which is itself based on manuscripts, most of which were quite late in date. But this does not mean that they are any inferior to those that are of an earlier date. People should not get too carried away with the name Textus Receptus, as though it had some special "blessing" from the Lord when complied. It was first used in 1633 (after the King James Version of 1611), by Bonaventure and Abraham Elzevir, in their Greek edition of the New Testament, "Textum ergo habes, nunc ab omnibus receptum", in English, "So has the text which all now receive". The history of the making of the KJV is interesting, seeing that it is based on textual versions of Cardinal Ximenes, of the Roman Catholic Church, in the 15th century. Also importantly is the Greek editions by Desiderius Erasmus, of the same time, and a humanist. The KJV itself has gone through a number of "revisions" after the 1611 edition. It remains as one of the best English versions of all time, but cannot be used as though it were itself the "only" version that we must use, as it will always be, a VERSION, which cannot ever be classed as being "inspired" as the original autographs were.
While I have great respect for the version that my country (England) gave the world, I would be very foolish in my studies, if I only used the KJV as my "source" for arriving at the truth on textual matters. It is evident from discoveries of Greek manuscripts that date within 100 years after Jesus Christ, and the evidence of the early Church "fathers", and other ancient language versions, that some of the "Modern" versions do add some value, not only to the "style" of the Bible in English, but also some very important textual variants that were not available to the KJV. Two such examples are, 1. John 1:18, which I very much believe that English versions like the ESV, NLT, and NIV, adopt the textual reading that is the original. Instead of "μονογενὴς υἱὸς" (Unique Son), we have "μονογενὴς θεὸς" (Unique God). Two of the oldest Greek Papyri Manuscripts, the P66 and P75 read, "θεὸς", which date some 200 years before the Greek Codex Alexandrinus, Manuscript, of the 5th century A.D. The KJV is also wrong in rendering the Greek, "μονογενὴς", by "only begotten", which the Greek word does not mean. Had John wished to say "only begotten", then he would have employed the correct Greek word for this purpose, which is, "μονογέννητος". "μονογενὴς", is a compound word, from "μόνος and γένος", which literally means, "one of a kind", or "unique", no "begetting" in it. So, some of the "Modern versions" get this right. The other passage is from Jude 5, which again I believe the KJV's reading is the incorrect one. Instead of the TR's "κύριος" (Lord), the reading with "Ἰησοῦς" (Jesus) is the original, which English versions like , ESV, NLT, CSB, BLB, Douay-Rheims, use in their text. Compare this with 1 Corinthians 10:9, which the KJV is right on using, "Χριστόν" (Christ), with Numbers 21:6, is a very clear text for the Deity of Jesus Christ, as He is here identified as Yahweh, the "eternal, self-existing" God! Another important Christological text which is clarified in "Modern versions", is Titus 2:14, where the KJV has it, "Looking for that blessed hope, and the glorious appearing of the great God and our Saviour Jesus Christ". This gives rise to the possibility of 2 Persons being meant, "the great God", as the Father, and "our Lord Jesus Christ". The Greek is, " προσδεχόμενοι τὴν μακαρίαν ἐλπίδα καὶ ἐπιφάνειαν τῆς δόξης τοῦ μεγάλου θεοῦ καὶ σωτῆρος ἡμῶν χριστοῦ Ἰησοῦ", which in accordance with strict rules of Greek grammar, show that only ONE Person is here meant, the Lord Jesus Christ. This has been "corrected" to the right English, "waiting for our blessed hope, the appearing of the glory of our great God and Savior Jesus Christ". The same Greek construction is used in 2 Peter 2:1, where again the KJV is not clear, when it says, "of God and our Saviour Jesus Christ", which is better rendered, "of our God and Savior Jesus Christ". only ONE Person is meant, the Lord Jesus Christ, Who is clearly seen as Almighty God.
Soli Deo gloria!