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> more like a floating point ... or more like a fixed-point ... ?
It really depends on what kind of analog hardware you use. Not exactly like either. You would different causes for error: Thermal, inherent indeterminism of interactions, decay/drift of value over time, boundary breaches with values near extrema, etc.
> IMO it is surprising fixed-point values don’t come up more often
The C++ standard committee has seen a paper on adding those to the language, as a library feature: https://www.open-std.org/jtc1/sc22/wg21/docs/papers/2019/p00...
There's a kind-of-popular fixed-point-math library for the language:
https://github.com/MikeLankamp/fpm
and I'm sure they have received some attention in other languages.