Beat 1 cup softened butter and 1 ¼ cups granulated sugar on medium-high for 3 to 4 minutes until pale and fluffy. Preheat oven to 375°F (190°C) and line 2 baking sheets with parchment.

Add 2 eggs one at a time, beating 30 seconds each, then mix in 2 tsp vanilla extract and 2 tbsp sour cream on low until just combined.

Whisk together 2 ¾ cups flour, 1 tsp baking powder, ½ tsp baking soda, and ½ tsp salt in a separate bowl, then fold into the butter mixture in 2 additions on low speed until no dry streaks remain.

Scoop dough into 8 balls of about ¼ cup each, press to ¾-inch thickness, and bake one sheet at a time at 375°F (190°C) for 11 to 13 minutes until edges are set. Cool completely on the pan.

Beat 8 oz cream cheese and 4 tbsp butter for 2 minutes, then add 3 cups sifted powdered sugar in 2 additions. Mix in 1 tsp vanilla extract and 3 tbsp heavy cream, beat on medium-high for 1 minute, then mix in pink gel food coloring until even.

Swirl frosting over each cooled cookie from center outward, leaving a ¼-inch border, and finish with a sprinkle of coarse sparkling sugar.