Place the cream cheese in a large mixing bowl. Use a hand mixer to whip it until it's light and fluffy.
Add the powdered monk fruit and cocoa powder. Beat with your mixer until they're well incorporated into the cream cheese.
Add the peanut butter and vanilla extract. Mix until evenly incorporated, stopping to scrape down the sides of the bowl as needed for more even blending.
Transfer the dip to a serving bowl. Serve immediately or cover and chill for 15-30 minutes for a firmer, more scoopable texture.