In a pot, bring chicken broth, half & half, water and butter to boil. Add grits and season with salt and pepper. Reduce heat to medium-low and cook, stirring regularly until liquid is absorbed. About 20 minutes. Stir in cheese. Keep warm.
While cooking your grits, heat a little vegetable or canola oil to large skillet over medium-high heat. Add sausage and cook until browned on both sides. Remove sausage from skillet and set aside and keep warm. Season shrimp with a little Old Bay and a pinch of salt, and add to skillet with sausage drippings. Cook shrimp on both sides, about 3 minutes total, then remove, set aside and keep warm.
Reduce heat to medium, and add 1 tbsp of butter to pan. Add crab meat and saute for 1 minute. Remove, set aside and keep warm.
Add 3 tbsp of butter to skillet, then add onion and bell pepper. Cook until softened, about 3-4 minutes. Add garlic and cook until fragrant, about 2 minutes. Stir in tbsp of flour, and stir until smooth and no lumps.
Stir in half & half, white wine and lemon juice. Season with cajun seasoning, cayenne pepper and a little salt. Cook until sauce thickens. About 10 minutes.
Serve warm over grits, and top with shrimp, crab meat and sausage.