Basic idea
There are no convenient AC voltmeters; there are only DC voltmeters. Therefore, we are forced to convert the AC voltage to DC and then measure it with a DC voltmeter. We can do this by first rectifying the voltage and then smoothing (averaging) it. Let's see how through step-by-step experiments, revealing the problems and looking for ways to solve them.
Analog AC voltmeter
Today, these electromechanical measuring instruments have fallen out of use, and we are examining them more out of curiosity and historical interest than for any practical purpose.
A characteristic feature of them is that their moving coil is inert and cannot oscillate at the frequency of the input AC voltage (50/60 Hz). This saves us from having to connect a low-pass filter; we only need a rectifier.
Another feature of these old-fashioned voltmeters is that they have a relatively low resistance (for example, 10 kΩ). We can set this in the parameters field of the voltmeter.
Ideal diode
This can be simply a diode connected in series. If it is "ideal"...

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... exactly the positive half-waves will reach the voltmeter, and the pointer will deflect to the corresponding position. The simulator cannot show this mechanical averaging; we simply have to imagine it.

Real diode
Diodes, however, have a forward voltage drop of around 0.7 V, which is subtracted from the input voltage.

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If the latter is small, the error is significant.

Op-amp follower
We can compensate for this unwanted voltage drop by adding the same voltage to the input. For this purpose, we can connect the diode in the negative feedback loop of an op-amp follower.

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The op-amp "lifts" its output voltage by as much as is lost in the diode. Thus, the "diode + op-amp" combination acts as an "ideal diode".

Op-amp V-to-I converter
In essence, an analog voltmeter consists of an ammeter and a resistor in series. So, the best way is to control the ammeter directly.
For this purpose, we can connect the ammeter and the diode in the negative feedback loop of a non-inverting amplifier (voltage-to-current converter).

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As above, the op-amp compensates for the voltage drop across the diode...

... and the current is exactly equal to Vin/R.

Bridge circuit
To reduce the ripple, let's make the rectification full-wave, for example, using a bridge rectifier circuit.

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But now the voltage loss across two diodes in series is twice as large, and almost the entire input voltage is lost.

Op-amp bridge circuit
The op-amp once again helpfully assists us...

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... by raising its output voltage by 1.5 V to compensate for the voltage drop across the diodes.

Digital AC voltmeter
Modern digital AC voltmeters do not have the inertia of 19th-century electromechanical voltmeters. Therefore, they need a smoothing (averaging) filter (RC circuit) connected to the input.
There are two time constants represented by the two resistors (in series and in parallel to the capacitor). The first is for charging, and the second is for discharging. Depending on their values, you get either a peak or an average value detector.
Peak detector
In a peak detector, the charging time constant is minimal, and the discharging one is maximal.
Zero resistance in series, infinite resistance in parallel: If we connect the capacitor directly to the rectifier output...

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... it will charge almost instantaneously to the peak of the positive half-wave...

... but will have nowhere to discharge (the voltmeter is 'ideal'). One solution is to force its discharge by short-circuiting it, but this is not convenient.
Zero resistance in series, finite resistance in parallel: Another (compromise) solution is to connect a resistor with a large resistance (or to set the voltmeter's resistance) in parallel with the capacitor, which will discharge it slowly.

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Average detector
In an average value detector, both have relatively large values.
R = 1 kΩ

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R = 10 kΩ

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These techniques can also be applied to the other diode circuits from above.
OP's idea
OP said in a comment:
What about this idea that - (after rectification) can we divide the peak voltage Vp by factor of 0.707 using voltage divider?
Your idea is feasible. By connecting a high-resistance voltage divider R1-R2 with a "gain" of 0.707 to the output of a peak detector, you can obtain an RMS detector (for sinusoidal AC voltage).
Peak to RMS detector

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Average to RMS detector
so, can we skip average detector (if not required) ?
Yes, you can. In my opinion, the average detector has the advantage of having fewer pulsations and that the resistors have lower resistance.

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