VEGAS Pro 16 Update 1 (build 261) has been released. Please give us your feedback in this thread.
If you already have build 261 or earlier installed, there is no need to uninstall it. The build 261 will overwrite your installation and retain your settings. Your computer will need to be online for activation after the update.
If you are installing VEGAS Pro 16 for the first time, it is generally better to install using a VEGAS Pro download manager. See here for details & links.
Official announcement with Patch Notes