If it suffices to use subtyping checks on erased types, do as Travis Brown suggested in the comment above:
def myIsInstanceOf[T: ClassTag](that: Any) =
classTag[T].runtimeClass.isInstance(that)
Otherwise you need to explicitly spell out the U
type, so that scalac captures its type in a type tag:
def myIsInstanceOf[T: TypeTag, U: TypeTag] =
typeOf[U] <:< typeOf[T]