Beat the butter, sugar and vanilla in bowl until smooth and creamy. On low speed, beat in the flour. Shape into a ball. Press pastry over the bottom of a 9-inch springform pan and 2 inches up sides.
Beat cream cheese and sugar in small bowl until light and fluffy. Beat in egg and vanilla until blended, about 1 minute. Spread evenly over pastry.
Heat oven to 450°F.
Combine sugar and cinnamon in bowl. Add sliced apples; toss to coat. Arrange apple slices in circular pattern on cream cheese mixture.
Bake in 450°F oven 10 minutes. Reduce heat to 400°F. Bake 25 minutes or until apples are tender and lightly golden. Brush with jelly. Transfer to rack to cool. Refrigerate to chill. Remove side of pan. Serve tart with sweetened whipped cream with dusting of cinnamon if desired.