In a medium bowl, beat 4 ounces of softened cream cheese with 1/2 cup of powdered sugar until smooth, about 2-3 minutes.

Gently fold in 1/2 cup of Cool Whip into the cream cheese mixture until light and fluffy, about 1-2 minutes.

Transfer the creamy mixture evenly into the bottom of the prepared graham cracker crust.

In a medium saucepan, combine 3 ounces of peach jello, 3 ounces of cook-and-serve vanilla pudding mix, and 1 1/4 cups of water. Stir until well incorporated.

Place the saucepan over medium-low heat, stirring constantly until it begins to boil, about 5-7 minutes.

Allow the mixture to cool for about 5 minutes, then arrange drained peach slices over the cream cheese layer.

Spoon the cooled jello-pudding mixture over the arranged peach slices.

Refrigerate the pie for at least 2-4 hours until set.