In a medium bowl, combine the crushed peanut butter sandwich cookies with the melted butter until the mixture resembles wet sand.

Press this mixture firmly into the bottom and slightly up the sides of a 9-inch pie dish, ensuring an even layer.

Place the crust in the freezer for 10–15 minutes to set while you prepare the filling.

In a large mixing bowl, beat the softened reduced-fat cream cheese and creamy peanut butter on medium speed until smooth and creamy, about 2-3 minutes.

Gradually add the powdered sugar and vanilla extract, mixing until fully incorporated.

Gently fold in 1 cup of light whipped topping until the filling is light and fluffy.

Take the chilled crust from the freezer and evenly spread the creamy peanut butter filling into it using a spatula.

Spread the remaining 1 ½ cups of light whipped topping gently over the filling, creating a beautiful layer.

Sprinkle the crushed peanut butter cookies on top and drizzle with melted chocolate or caramel if desired.

Cover and refrigerate for at least 4 hours to allow it to firm up.

Once chilled, carefully slice the pie into wedges and serve.