In Vegas Pro 19, I've noticed that if I significantly change the proportions of an image file on disk that's currently in use on the timeline - such as greatly changing its resolution or aspect ratio (ie change from 1000x1000 pixels to 2500x1000 pixels), this change is not reflected in the timeline/preview, and it will display the now modified image incorrectly (ie wrong size / position / unexpectedly truncated, etc) until:
1) the image is deleted from the timeline AND removed from Project Media (simply re-adding the image, or deleting and re-adding the image does not work unless it is also scrubbed from Project Media).
2) closing and re-opening the VEG file.
Since closing and re-opening the VEG does correct this, I can only assume that it should be recognizing that the file has been modified, or I would expect the incorrect display to continue even after re-loading. There's no issue with Vegas instantly reflecting changed image CONTENTS, it's just not working right with proportions.
I've been caught several times in the past few days trying to figure out why some images just aren't looking like they're supposed to be - looking proper in some places, totally messed up in others - until I discovered that closing and re-opening the VEG corrected this, and now I've figured out what's going on.
EDIT: also, "Adjust source media to better match project or render settings" is already disabled, as that's yet another thing that can cause unexpected changes to the dimensions / aspect ratio of media files.