Step 1: Analyze the given expression.
We are given the rational number $\frac{17}{2^2 \times 5}$.
This simplifies to:
\[
\frac{17}{4 \times 5} = \frac{17}{20}.
\]
Step 2: Check for terminating decimal condition.
A rational number has a terminating decimal expansion if the denominator, in its simplest form, has only the prime factors 2 and/or 5.
Here, the denominator $20 = 2^2 \times 5$, which only contains the primes 2 and 5. Hence, the decimal expansion will terminate.
Step 3: Perform the division.
Now, divide $17$ by $20$:
\[
\frac{17}{20} = 0.85
\]
The decimal expansion terminates after 2 decimal places.
Step 4: Conclusion.
Thus, the decimal expansion of $\frac{17}{20}$ will terminate after 2 places of decimal.