V-Ray 5 for Maya Beta

The update is similar to the recent 3ds Max release featuring a completely re-written VFB with layer-based compositing tools and light mixing for control over the color and intensity of lights. There's also a new V-Ray Proxy workflow with а simplified single geometry node structure.

Features:

• The update allows users to explore different lighting options from a single render. You can interactively adjust lights, without rerendering with the LightMix render element.
• The new Layer compositor lets users fine-tune images directly in the V-Ray Frame Buffer, so you don't need a separate post-processing app.
• The toolkit allows outputting any lighting contributions with Light Path Expressions for fine-grained control in compositing. 
• The update improves viewport and render speed with the new VRay Proxy node.
• More

You can learn more by visiting the Chaos Group’s website.