A major barrier for the full utilization of metal additive manufacturing (AM) technologies is quality control. Additionally, in situ real time nondestructive monitoring is desirable due to the typical high value and low volume of components manufactured with metal AM. Depending on the application, characteristics such as the geometrical accuracy, porosity, defect size and content, and material properties are quantities of interest for in situ nondestructive evaluation (NDE). In particular, functionally tailored components made with hybrid processing require quantitative NDE of their microstructure and elastic properties. Ultrasonic NDE is able to quantify these relevant characteristics. In this work, an ultrasonic measurement system is used to collect in situ real time measurements during the manufacturing of samples made with a hybrid process, which combines directed energy deposition with milling. In addition to quantifying ultrasonic properties, the measurements are used to gather insight on other geometry, material, and process effects. The results show the utility of ultrasound to evaluate relevant properties during manufacturing of a functionalized material domain, while providing perspective on additional material evolution information obtained from ultrasonic signals.