In a medium pot over medium-high heat, bring cherries, granulated sugar, water, and cornstarch to a simmer. Cook, mashing down on cherries, until bubbling and thick, 1 to 2 minutes. Remove from heat.

Transfer 1 ¼ cups cherry compote to a food processor and process until mostly smooth, about 1 minute. Pour blitzed cherry compote into a small bowl and refrigerate until cold. Transfer unblitzed cherry compote to a medium container and refrigerate until ready to serve.

Meanwhile, in a large bowl, using a handheld mixer on medium-high speed, beat cream cheese, confectioners’ sugar, vanilla, and salt until light and creamy, 1 to 2 minutes.

Add ½ cup cream and beat on low speed until smooth. Continue to add cream, ½ cup at a time, beating until incorporated before adding the next, until all cream is used.

Increase speed to high and beat until light, fluffy, and stiff peaks form, 1 to 2 minutes more.

Line an 8 ½" x 4 ½" loaf pan with plastic wrap, leaving an overhang on all sides. Line bottom of pan with 3 sheets of graham crackers, breaking ends as needed to fit and using trimmings to fill pan.

Spread 1 cup cheesecake mixture on top. Top with ½ cup blitzed cherry compote, then carefully dollop with another 1 cup cheesecake mixture, spreading with an offset spatula or the back of a spoon to avoid the layers merging.

Add another layer of graham crackers, then repeat layers of cheesecake, blitzed cherry compote, and cheesecake; reserve any remaining cheesecake (cover and refrigerate until ready to use). Top with remaining graham cracker sheets.

Cover pan with plastic wrap and refrigerate at least 4 hours and up to overnight.

Remove top layer of plastic wrap from top of cake. Place a rectangular platter upside down on top of pan, then invert pan. Remove pan and peel off plastic wrap.

Frost top and sides of cake with reserved cheesecake mixture. Top with unblitzed cherry compote.