It appears they have two sets of V bars crossing over that conceals the actual video wipe. They bars vary in size, color and transparency. You could make the two sets of V color bars in Photoshop as two pics with a transparent backgrounds. Bring them both into Vegas as track 1 and track 2 and keyframe them using track motion to criss cross with track 3 having the actual video wiping underneath. You need to get that one large blue bar to cover and track the actual wipe on track 3. It sounds harder than it what it really is. Just step frame through one frame at a time on the original file you posted and analyze what you see.

You can also come close to making those two vertical bar events with noise generators in Vegas. Track 1 with a noise generator to creat a few vertical bars. Set one color to transparent. Track 2 as a child with a color gradient to vary the color bars colors. Set track 1 compose to Multiply Mask. Same setup for tracks 3 and 4 to move in opposite direction across the screen and to vary the look.

Experiment and create.

GG