1. Yarvin wants to distance himself from Vance because he fears reputational damage from being associated with the US Vice President. (But from other evidence, cited in https://www.astralcodexten.com/p/moldbug-sold-out, this seems implausible.)
2. Vance wanted to exaggerate his closeness to Moldbug in order to enhance his own reputation. This doesn't seem plausible either; it's implausible that more than 0.1% of the Ohio electorate had any idea who Moldbug was, and at the point that you're a plausible candidate for a US Senate seat, your reputation will no longer be enhanced by being associated with a little-known blogger.
A much more likely explanation is that Vance admires Moldbug and wants to encourage his followers to read him.