I begin to see the context now, it is the context of relativistic fluid flow. The ##\vec{u}## quantity is a fluid 4-vector field, i.e. a 4-vector function of the 4-position. It is therefore NOT the expression you used ## \vec{u} = \langle \frac{dt}{d\tau}, \frac{dx}{d\tau}, \frac{dy}{d\tau},\frac{dz}{d\tau}\rangle##. Likewise in that context (problem 2.26) It would seem ##V## is a volume element for a local region of fluid in its local rest frame. What you have then is the 4-vector equivalent of a continuity equation.
To derive it consider the world-path of a 3-cube of fluid at a given position and time and with boundaries comoving with the fluid. Let the three dimension of the cubic volume be ##\Delta x, \Delta y, ## and ## \Delta z##. The volume is then at that instant ##V = \Delta x \Delta y \Delta Z##. It is then a matter of considering how opposite faces are moving relative to each other given the fluid's non-uniform flow. The two faces orthogonal to the x-direction will have normal components of their 4-velocities differing in the small scale limit by ## \Delta x \cdot \frac{\partial u_x}{\partial x} ##. Likewise with the faces in the y and z directions. Thus the total rate of change of volume w.r.t. proper time will be ## dV/d\tau = \Delta x \partial_x u_x\cdot \Delta y \Delta z + \Delta y \partial_y u_y \Delta x \Delta z + \Delta z \partial_z u_z\cdot \Delta x\Delta y## the relative motion of each pair of opposite faces times their areas. Combining terms you get the volume time the three gradient of the spatial components of the 4-velocity.
To complete the argument one needs to argue that, possibly because one is in the fluid's instantaneous rest frame, ##\frac{\partial}{\partial t} u_t = 0## in that frame. (I'm not feeling 100% solid on this part of the argument.) You can thus add this zero term to the equation to get:
\frac{dV}{d\tau} = V \partial_\mu u^\mu \quad \partial_\mu = \frac{\partial}{\partial x^\mu}
thence the expression you quoted. The 4-divergence of the 4-velocity field then can be calculated in any frame as it is invariant. Its interpretation is likewise given as the proportionate rate of 3-volume expansion of the fluid at a given point and time as measured in its rest frame.