Preheat your oven to 350°F (175°C) and grease a 9-inch springform pan with butter or cooking spray.

Melt ½ cup of unsalted butter in a medium saucepan over low heat. Add chopped pecans and toast for about 5 minutes.

In a mixing bowl, beat 8 ounces of cream cheese until smooth. Gradually add 1 cup of powdered sugar, then 1 egg until combined.

In a large bowl, whisk together the cooled melted butter and 1 cup of granulated sugar. Beat in 2 eggs, 1 tsp vanilla extract, and 1 tbsp bourbon until smooth.

In another bowl, whisk together 1 ½ cups of flour, 1 tsp baking powder, ½ tsp baking soda, and ½ tsp salt. Gradually mix into the wet batter, alternating with ½ cup buttermilk.

Pour half of the cake batter into the greased pan, spread the cream cheese mixture on top, and layer the remaining batter followed by the reserved pecans.

Bake in the preheated oven for 40-45 minutes until golden brown on the edges and slightly jiggly in the center.

Cool the cake in the pan for about 15 minutes, then transfer to the refrigerator and chill for at least 2 hours.

To make the caramel sauce, melt 1 cup of sugar in a saucepan over medium heat. Once melted, add ¼ cup butter, then stir in ½ cup heavy cream until smooth.

Drizzle the warm caramel sauce over the chilled cake, slice, and serve with whipped cream or vanilla ice cream.