In the bowl of a stand mixer, whip heavy cream until soft peaks form and transfer to a small bowl. Chill whipped cream in the fridge.
Cream together cream cheese, cool whip and sugar in the stand mixer until fluffy, about 2-3 minutes.
Add in peanut butter and vanilla extract and mix until combined.
Fold in the whipped cream and pour into the pie crust.
Spread top into an even layer and chill in the fridge.