The RAW stage
The panel looks the same for a RAW file: one slider, one number. But three of its sliders reach the photograph by a different route, and it is worth knowing why, because it is where a stop of recovered sky comes from, and why a subject scope does not narrow them.
Three sliders go to the decoder
For a RAW file — a Fujifilm RAF, or any other RAW format this Mac can decode — Exposure, Temperature and Tint are not applied to the finished picture. They are handed to the RAW decoder, which applies them while it still has the sensor's own data. The other sliders are applied afterwards, as on any file.
The reason is headroom. A RAW file holds highlight detail that a rendered image has already thrown away, and once the decoder finishes its work that detail is gone. Measured on this app's own Fujifilm corpus, a stop of brightening asked of the decoder clipped about half as many pixels as the same stop applied afterwards. Every RAW file you brighten gets that for free, and the white-balance eyedropper and presets go by the same route.
The decoder applies those three to the whole frame, and a scope cannot narrow them. When the sliders are scoped to the subject or the background, by the Subject mask button or by a card from Asking for an adjustment, Exposure, Temperature and Tint still change the whole frame on a RAW file. Only Contrast, Highlights, Shadows, Saturation and Vibrance obey the scope. A mask's own sliders on the Local tab are not affected. Adjusting inside a mask has the way around.
The camera JPEG until you develop
A RAW file you have not developed shows the camera's own JPEG in Frames, the strip, Single and the edit canvas. It is faster, and it is exactly what you saw on the back of the camera. The exception is when you look closer: zoom in on it in Single, or hold Z for the loupe in Frames, and Vixlo reads the sensor data even for a frame you have not developed, so that a focus check looks at the file's own pixels. See Zoom and the focus check.
The moment you develop the frame, every view switches to one decode of the sensor data with your settings on it: Frames, the strip, Single, Compare, the loupe, the look swatches, the edit canvas and the export all start from the same decode. What you cull on is what ships. The capture line under the scope card in the panel's header shows, where the file carries it, the film simulation and dynamic range the camera itself used.
A developed RAW file is also pinned to the decoder it was developed on. macOS ships more than one RAW decoder and they do not agree with each other, so Vixlo records which one rendered the frame and keeps using it as long as your Mac still offers it. Frames you have not developed are not affected, and a JPEG records nothing.
When your Mac cannot develop the file
If your Mac cannot decode a RAW file at all — usually a camera body newer than your version of macOS — the file itself is fine, and what you see depends on where you look. Until a take carries an adjustment it shows the camera's JPEG, which needs no decoder. Once it does, the cull page's Frames, the strip and Single go on showing the camera's JPEG with no adjustments applied, and say nothing about it. On the edit page, the canvas's bottom line can say why, in orange: This Mac cannot develop this RAW file — showing the camera JPEG.
The edit canvas does not show the camera's JPEG for such a take. The line says more than the canvas does. For a take that carries a setting, on a RAW file this Mac cannot develop, the canvas is empty or keeps whatever it last drew for that take, and either way the picture has none of your adjustments. The way around is to look at the frame on the cull page, where it shows the camera's JPEG, and to judge nothing on the edit page until macOS learns the camera. The canvas has the detail, and A RAW file that ignores your edits says what to do.
Your adjustments are still saved. They render as soon as the operating system learns the camera.