In a medium saucepan, combine 1 cup of the granulated sugar with the cornstarch and salt. Gradually whisk in the water until smooth and lump-free.
Set the saucepan over medium heat and bring the mixture to a gentle boil, stirring constantly. Lower the heat and incorporate the remaining ¼ cup sugar along with the lemon juice. Continue to cook for about 2 minutes, stirring frequently, until the mixture becomes thickened and begins to bubble.
Remove the saucepan from heat and stir in the butter, lemon zest, and food coloring if using. Allow the lemon mixture to cool at room temperature for approximately 1 hour.
In a separate bowl, beat the softened cream cheese together with the powdered sugar until creamy and smooth. Gently fold in the whipped topping and lemon juice until fully combined. Reserve ½ cup of this mixture and refrigerate for later use as garnish.
Spoon the remaining cream cheese filling evenly into the base of the cooled pie shell. Carefully spread the cooled lemon layer over the top to cover the cream filling.
Cover the pie loosely and refrigerate overnight to set completely.
When ready to serve, slice the pie and garnish each portion with a decorative swirl of the reserved cream cheese topping.
Serves: 6 to 8