I'm sure there are other/better ways but I ended up using two timers with offset times. One turns the bit on, the other turns it off. They aren't exactly xx seconds on and xx seconds off but for my application I just need the bit to turn on/off at least once per 60 seconds to ensure the Modbus is talking. Timer1 is set for 1000ms and timer2 is 2250ms and that give me a good random pulse.
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Private Sub Timer1_Tick(sender As Object, e As EventArgs) Handles Timer1.Tick
ModbusTCPCom1.Write("000030", 1)
End Sub
Private Sub Timer2_Tick(sender As Object, e As EventArgs) Handles Timer2.Tick
ModbusTCPCom1.Write("000030", 0)
End Sub
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