Given that the Knob & Tube method is the only method that still permits splices that aren't enclosed in junction boxes, I made it a point to lay into truck stock a roll of rubber splicing tape. One such tape is 3M Scotch 23. It's thick, and a short length will fill out to the surface of the insulated conductor.
I don't use it often, but when I need it, its the best solution. One can use this for filling in around split-bolts, and similar situations.
3M 23 is the type of rubber filler tape that was originally used on the splices when first installed. Friction tape was then used to "harden" the re-insulated area. But, today, IMO, modern plastic tapes, such as 3M 33+, 88 or 22 do a better job of protecting the rubber splicing tape.
The only reason, IMO, to use the friction tape, such as a 3M 1755, is to "restore" an historic installation of Knob & Tube. One might do so for a museum, say.