HP and Dell workstations have rarely come up as being Vegas Pro users' computer on the forum over the years. This might either mean that no problems are encountered using Vegas Pro, or not that many people using Vegas Pro use workstations. I suspect the latter.

There was a recent post from a long-term forum member who was considering getting a workstation: https://www.vegascreativesoftware.info/us/forum/dell-precision-5820--134480/#ca838797 - but note the 2nd response.

One way of researching your question is to compare the recommended minimum specifications for Vegas Pro 19 with those of the W3223. The recommended minimum specs for Vegas Pro 19 are: https://www.vegascreativesoftware.com/us/specifications/#productMenu

An Intel i7-11700 will meet those specs if its base frequency is boosted a bit up to 3.0 Ghz (its base freq is apparently 2.5 Ghz); and then compare the i7-11700 with the W3223. I found this: https://www.cpu-world.com/Compare/343/Intel_Core_i7_i7-11700_vs_Intel_Xeon_W_W-3223.html which compares the two CPUs. You can probably find other comparisons online with other Intel i7 or i9 CPUs.

In summary, the advantages/disadvantages are: the W3223 has a higher base frequency (good) but does not have an onboard GPU (not so good) and uses much more power (not good); whereas the i7-11700 has a lower base frequency (not so good) but has an iGPU (good), has a higher turbo-boost (good if you want or need that) and uses less power (good).