In a saucepan, whisk together sugar, flour, and milk. Cook over medium heat, stirring constantly until the mixture thickens and starts to bubble (about 5–7 minutes).

Slowly whisk in the beaten egg yolks and cook for another 2–3 minutes. Stir in butter and cream cheese until melted and smooth. Remove from heat and add vanilla extract.

In a separate bowl, whip the heavy cream with sugar until stiff peaks form.

In a serving dish, layer vanilla wafers, banana slices, and warm pudding. Repeat layers until all ingredients are used.

Cover and refrigerate the pudding for at least 2 hours to set. Before serving, top with whipped cream.