Prepare the Filling: In a medium bowl, combine the softened cream cheese, granulated sugar, and vanilla extract. Beat with a hand mixer or a whisk until smooth and creamy.

Prepare the Puff Pastry: Gently unfold the thawed puff pastry sheet on a lightly floured surface.

Cut into Triangles: Using a pizza cutter or a sharp knife, cut the puff pastry into large triangles.

Add the Filling: Spread a thin layer of the cream cheese mixture onto each triangle, leaving a small border around the edges. Then, add a spoonful of raspberry preserves on top of the cream cheese layer.

Roll into Croissants: Starting at the wide end of each triangle, gently roll it up towards the point. Place the rolled croissants on a baking sheet lined with parchment paper.

Egg Wash: In a small bowl, whisk together the egg and water. Brush the tops of the croissants with the egg wash.

Bake: Bake in a preheated oven at 375°F (190°C) for 18-20 minutes, or until the croissants are golden brown and puffed up.

Cool and Serve: Let the croissants cool on the baking sheet for a few minutes before transferring them to a wire rack to cool completely. Dust with powdered sugar, if desired, before serving.