"New features in VEGAS Pro 17: --- "Color Grading window: Several color-related Video Event FX (including Input LUT, Color Wheels, Color Curves,HSL, White Balance and many more) are combined in a dedicated screen area that is easily shown or hidden with a toolbar button."
For color grading, export your video to Intermediate format (basically ProRez) and import that to Resolve (which is free for this purpose). Do your color grading in Resolve. Vegas' recent color grading addition is just window dressing. It offers little more than the Vegas' Color Corrector FX.
The way I do it is to go to Resolve with just the camera footage and log lut and come back to Vegas with a combination lut exported from Resolve. The Vegas 17 and Resolve color consoles are almost identical except that Vegas lacks the hue-vs-hue correction tool which is really special if color is a little skewed. And mask cutout presets for color charts. But I find that if I'm careful setting color temp when I shoot all I need is a rough bezier on a color chart in the Vegas 17 color console. I've tried it both ways a few times and often end up tossing the Resolve-created lut in favor of one I made with the Vegas color console.