Is there any benefit to having balanced outputs on a turntable?
Yes. In essence it provides a lower noise floor and that can be quite is large difference. Now how much that depends on the record noise.. but if you’re trying to reduce noise other than what the stylus picks up then it’s worth it. There in lies the Achilles heel - lower noise floor will show up your stylus, the setup state and the state of the record.
MM and MC (even lower) both are lower signal strength compared to line levels. So being a balanced between the cartridge and phono preamp is a big win. So if we just took the left channel for a second, as the two wires are close any noise appears on all both wires. Compared to a single ended earthed cartridge where the noise is signal (no way to differentiate) plus you get ground noise injected.
Any good phono amp is heavily shielded given the low signal levels involved.
A differential preamp (balanced) would then output a differential output to the main amp. Again, any noise occurring on both wires for the channel can then be cancelled out at any stage however that is typically continued in a fully balanced stereo through to the bridged speaker.
Now balanced won’t stop noise that is not common, other techniques can help with that but it does help with the more digital world imposing it’s broadcast noise into your stereo.
Balanced isn’t mythical and you can benefit is different ways. A balanced connection simply means noise rejection in transport. Balanced amps mean noise rejection in amplification. And a bridged output (or balanced headphones) simply means noise rejection in the speaker cable (includes amp). Combining all of those means waiting till the last possible instant when all the noise cancels out.
note that’s the extreme. It’s possible to switch between balanced and single ended at will, only the SE section will not be able to reject common mode noise. If the SE section is ultra quiet then that may not matter and so you can just use balanced wheee you find noise interference.