The digitized version is a copy of the pre-existing work and would be protected as such, but no new work of authorship is created. A novel may be digitized and stored in an electronic medium. They are adding, at best, creative flourishes and frills. They start with a concept already firmly in the public domain. In America, only original works are copyrightable.
Fonts always start with some concept of the alphabet.
Therefore the copyright has adamantly refused for over 100 years to allow typeface designs to be copyrighted as design. It is always free to be reverse engineered and have the design extracted. The two latest Copyright rulings on this were 1988 and 1992. If this master computer program includes data that fixes or depicts a particular typeface, typefont, or letterform, the registration application must disclaim copyright in that uncopyrightable data. Useful articles are not protected except to the extent the articles contain artistic features capable of existing separately and independently of the overall utilitarian shape.