In a stand mixer or large mixing bowl, whip the heavy cream until stiff peaks form, about 3 minutes.
Mix in cinnamon, vanilla, sugar and caramel sauce until combined. With mixer on medium speed add the softened cream cheese and mix well until smooth.
Serve with apple slices. Refrigerate leftovers.
To make ahead: this dip stays fresh for 5-7 days in the refrigerator so it's definitely a great one to make ahead of time. I like to let it thaw for a few minutes on the counter before dipping. Cut the apples fresh for serving or toss them in a little lemon juice to prevent browning.