Lightly grease the sides of an 8-inch spring-form pan (with a removable rim) or a 9-inch pie dish with oil. Line the bottom of the pan with parchment paper, securing the rim with the excess paper hanging over the sides.
Pour the graham cracker mixture into the prepared pan. Use the bottom of a measuring cup or glass to firmly press the mixture onto the bottom and sides of the pan, ensuring a compact crust. Use your fingers to pack it tightly if necessary. Place the homemade crust in the freezer while preparing the filling.
Filling:
In a large mixing bowl of a stand mixer (or using a hand mixer with a large bowl and paddle attachment), beat the cream cheese on medium speed for 1.5 minutes. Add the sour cream and mix until just combined.
In a separate bowl with a whisk attachment, whip the heavy cream until stiff peaks form. Carefully fold it into the cream cheese mixture using a spatula, being mindful not to deflate the whipped cream.
Spread half of the filling mixture over the graham cracker pie crust, smoothing it out with the back of a spoon. Spread half of the cherry preserves in an even layer on top of the cream cheese layer, leaving a 1-inch border around the edges of the pie.
Add the remaining filling mixture, smoothing it out again with the spoon, and top with the rest of the cherry preserves. Refrigerate for at least 6 hours, or overnight. Decorate the chilled pie with fresh cherries before serving.