Have you searched YouTube for tutorials? If yes, you would have found these:

https://www.youtube.com/results?search_query=vegas+pro+time+lapse

I am not sure that the Vegas Pro versions being used in these tutorials being prior to Vegas Pro 19 would make much difference.

Another option is to use a Velocity Envelope on the video event, but that has a maximum velocity of 1000% (i.e.10 times). If faster is needed, the video event with 1000% velocity could be rendered and then another velocity added to the render up to 1000% could be run again - that would provide an overall velocity increase of up to x100.