Have you examined the Preset options in the Video Event FX window of Movie Studio 16 Platinum? (Things changed a bit in v.16 due to "Simplified Video FX, Transition, and Generated Media windows make these easier to understand and use", which many users think was unfortunate.)
Yes, I have gone to this preset and selected the Cookie Cutter but there does not seem to be a way in that UI to only show the border and not FILL the shape with any color rather be transparent. The tutorials I can find are using a previous version where you have choices when selecting the Cookie Cutter such as with a border.
I just want to be able to show a shaped border around something on the page.
I just want to be able to show a shaped border around something on the page.
Having got your border around the required area just add another instance of the clip to a track below. You can then darken or slightly blur this to make your bordered area stand out more.