Multiple windows like; Media explorer, Effects, Transitions, Media Generator etc. are open and appear to have no content until I move the mouse over it.
Example: In effects I cannot see the preview thumbnails with the eyeball example until I move my mouse over that area. Then they blink into view, but still have issues.
SYSTEM:
Vegas Pro 19
ASUS ROG Mid Tower.
11th Gen Intel(R) Core(TM) i9-11900K @ 3.50GHz 3.50 GHz
64GB RAM. Asus Fury Beast 3200.
Nvidia Geforce GTX 3070Ti
Windows 10 pro
That is often a common graphics memory issue. Close other applications, avoid multitasking, also check for latest Studio driver version.
If simply installing the latest known-good studio driver doesn't fix the problem try a driver cleaning and reinstall with DDU
Any update to this? Having the same issue. 
@georgiaguy @Lane-Tyler It may be caused by a mal-behaved bloatware app named "Sonic Studio". Often slipped into Asus Realtek driver installs. See if it's installed by looking in "Windows Settings/Apps/Apps&Features" and uninstall it if you see it listed there and reboot.
Nope... no Sonic Studio. Any other takers?
I found that solution for myself by going through every app I didn't recognize and uninstalling them one by one till I identified the bad guy. Try that.
The fix...
To reset your software, you simply need to double click the program's icon while holding down Ctrl+Shift. This will bring up a window asking if you would like to delete the cache. Check the box then click okay and your program should start.