Preheat the oven to 375°F (190°C) and line a baking sheet with parchment paper.
In a small bowl, blend the cream cheese, granulated sugar, and vanilla extract until smooth and creamy.
Roll the puff pastry sheet on a lightly floured surface, trimming the edges. Slice it into 8 equal squares. You can also set aside the leftover pastry to make decorative leaves if desired.
Spoon a dollop of the cream cheese mixture into the center of each square.
Add a few cherries on top of each one.
Fold the corners of each pastry square towards the center, overlapping slightly to form a pinwheel or diamond shape. Press gently to seal. If preferred, shape the remaining pastry into leaves and place them on top for decoration.
Brush the edges of the pastry with the beaten egg to achieve a golden finish.
Place the pastries on the prepared baking sheet and bake for 18–20 minutes, or until they are puffed and golden brown. Allow them to cool for 5 minutes, then dust with powdered sugar before serving.