Hello,
Yes, the TPP0500B is a newer probe and physically keyed to prevent attachment/confusion with older incompatible scopes. (i.e. the DPO7254 does not have the electrical circuitry required to support the TPP0500B).
For a new probe, I recommend the P6139B, a similar probe (500 MHz, 10x) that works with your DPO7254. For completeness, the P6139A also works but isn't in production. The only difference between the P6139A and P6139B is the tip diameter (which only impacts tip accessories compatibility, not scope compatibility). If you already have P6139A probes on-hand, that is the ideal choice.