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You can specify user tags between < and > brackets. At render time, V-Ray takes the tag name and looks it up in the V-Ray User Attributes list for the shaded object to determine the value of the tag. This allows a single File node to use different file textures on different scene nodes. For example, you could specify the file name in the File node as /path/to/texture/<objtag>_diffuse.png and then for the objects that use the material, add a V-Ray User Attributes string with values like objtag=head or objtag=body etc. Then during rendering, V-Ray will attempt to load and use the texture file /path/to/texture/head_diffuse.png for the first object and/path/to/texture/body_diffuse.png on the second.

Starting with V-Ray 5.0, when user attributes are used at the beginning of a file path, V-Ray treats the path as absolute. To mimic the old behavior, use the fake user attribute  <PROJECT_PATH> that forces the path to be interpreted as relative. For example, if you have an old scene with an Image name = <filename>.jpg where 'filename' is not a full absolute path but just the jpg name, you can add the fake attribute in front: Image name = <PROJECT_PATH>/<filename>.jpg and it will be loaded correctly.