1️⃣ Make the Donut Dough:

1. In a large bowl, whisk together flour, granulated sugar, baking powder, and salt.
2. In a separate bowl, mix milk, melted butter, and egg until well combined.
3. Gradually add the wet ingredients to the dry ingredients, mixing until a soft dough forms.

2️⃣ Prepare the Peach Cobbler Filling:

1. In a small saucepan, combine diced peaches, sugar, cornstarch, cinnamon, and lemon juice.
2. Cook over medium heat, stirring occasionally, until the mixture thickens and becomes syrupy (about 5-7 minutes). Remove from heat and let cool.

3️⃣ Make the Cheesecake Filling:

1. In a medium bowl, beat the softened cream cheese, powdered sugar, heavy cream, and vanilla extract until smooth and creamy.
2. Transfer to a piping bag with a round tip.

4️⃣ Fry the Donuts:

1. Heat vegetable oil in a deep skillet or pot to 350°F (175°C).
2. Roll out the dough on a floured surface to 1/2-inch thickness and cut out donut shapes (use a 3-inch round cutter and a smaller one for the center).
3. Fry donuts in batches for 1-2 minutes per side, or until golden brown. Remove and drain on paper towels.

5️⃣ Assemble the Donuts:

1. Once the donuts are cool enough to handle, use a knife to create a small slit in each donut.
2. Pipe the cheesecake filling into the donuts, then spoon the peach cobbler filling on top or inside the slit.

6️⃣ Dust and Serve:

1. Lightly dust the filled donuts with powdered sugar.
2. Serve warm or at room temperature for an indulgent treat.