Prepare the Banana Filling: In a large mixing bowl, whisk together the instant vanilla pudding mix and cold milk. Let it sit for a few minutes until it thickens.

1. Mix the Cream Cheese: In a separate bowl, beat the softened cream cheese and powdered sugar until smooth. Add the thickened pudding mixture and vanilla extract, then mix until fully combined.
2. Fold in the Whipped Cream: Gently fold the whipped cream into the cream cheese and pudding mixture until smooth and fluffy.
3. Layer the Pie: Spread a layer of sliced bananas evenly over the bottom of the graham cracker crust. Pour the creamy banana mixture over the bananas, smoothing it out.
4. Chill the Pie: Refrigerate the pie for at least 4 hours, or overnight, for the filling to set.
5. Serve and Garnish: Before serving, garnish with whipped cream, chocolate chips, or caramel sauce, if desired. Optionally add extra banana slices on top.