Preheat your oven to 350°F and prepare two baking sheets by lining them with a silicone baking mat or parchment paper.

Combine the butter, cream cheese, both sugars, baking soda, salt, and vanilla extract in the bowl of a stand mixer fitted with a paddle attachment. Mix on medium speed until creamy and uniform, about 1 to 2 minutes.

Incorporate the egg by scraping down the sides of the bowl and mixing on medium speed until fully combined. Repeat with the egg yolk, then add the red food coloring carefully, mixing on low speed to avoid any splatters.

Stir in the dry ingredients (flour and cocoa powder) just until they are absorbed.

Fold in 1 1/2 cups of the white chocolate baking chips, reserving 1/2 cup for the topping. Mix slowly until evenly distributed.

Roll 1-inch balls of dough using wet hands, placing them on the prepared baking sheets.

Bake the cookies for 11 to 13 minutes or until the edges are dry and set, yet the centers remain puffed.

Press several reserved white chocolate chips into the tops of the cookies while they’re still warm. Cool on the baking sheet for 5 minutes before transferring them to a wire cooling rack.