I know that virtual functions have an overhead of dereferencing to call a method. But I guess with modern architectural speed it is almost negligible.
The issues is that while Java compiles to code that runs on a virtual machine, that same guarantee can't be made for C++. It common to use C++ as a more organized replacement for C, and C has a 1:1 translation to assembly.
If you consider that 9 out of 10 microprocessors in the world are not in a personal computer or a smartphone, you'll see the issue when you further consider that there are a lot of processors that need this low level access.
C++ was designed to avoid that hidden deferencing if you didn't need it, thus keeping that 1:1 nature. Some of the first C++ code actually had an intermediate step of being translated to C before running through a C-to-assembly compiler.