We investigate the ground state nature of the transverse field Ising model on the $J_1-J_2$ square lattice at the highly frustrated point $J_2/J_1=0.5$. At zero field, the model has an exponentially large degenerate classical ground state, which can be affected by quantum fluctuations for non-zero field toward a unique quantum ground state. We consider two types of quantum fluctuations, harmonic ones by using linear spin wave theory (LSWT) with single-spin flip excitations above a long range magnetically ordered background and anharmonic fluctuations, by employing a cluster-operator approach (COA) with multi-spin cluster type fluctuations above a non-magnetic cluster ordered background. Our findings reveal that the harmonic fluctuations of LSWT fail to lift the extensive degeneracy as well as signaling a violation of the Hellmann-Feynman theorem. However, the string-type anharmonic fluctuations of COA are able to lift the degeneracy toward a string-valence bond solid (VBS) state, which is obtained from an effective theory consistent with the Hellmann-Feynman theorem as well. Our results are further confirmed by implementing numerical tree tensor network simulation. The emergent non-magnetic string-VBS phase is gapped and breaks lattice rotational symmetry with only two-fold degeneracy, which bears a continuous quantum phase transition at $Gamma/J_1 cong 0.50$ to the quantum paramagnet phase of high fields. The critical behavior is characterized by $ u cong 1.0$ and $gamma cong 0.33$ exponents.
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