Hi and welcome to the forum - albeit the wrong one.
Assuming you mean Vegas Movie Studio 12 , Vegas products have their own forum here. I would suggest you post your question there
. . . . Or do I have to move up to 2022? . . . .
This is an entirely different program, after Vegas Creative Software dropped further development of Vegas Movie Studio, Magix plugged the gap with a version based on Movie Edit Pro. 2022 is the latest incarnation where the 2 products have been merged and rebranded Magix Movie Studio (MMS).
Before considering upgrading I would suggest you look at the product features on the Magix website and the tutorials listed here - though they refer to Movie Edit Pro they are applicable to MMS 2022.
MMS can import previous .vf files from the Vegas product, however it is clips and cuts only - no effects etc are supported.
MMS 2022 can import Quicktime format files that are encoded as h.264/AVC however not those encoded JPG or PNG formats