Legacy Text is indeed in Vegas Pro 20, but it needs to be activated via Options/Preferences/Deprecated Features (tab). It's the same with both Vegas Pro 19 and 18.
As pointed out, it can be activated in the Deprecated tab. But why not use the Titles & Text feature, it has far more customization and features. It's only disadvantage is that it does not handle certain fonts well.
Thank you all for your responses. I found what i was looking for this morning. In the video media generator, change the text color to transparent and the outline width gives this appearance. This is what i was searching for. And yes Mr. Rhoden, Titles & Text is a far better way of making beautifully customized captions etc. Thank you both.