Combine graham cracker crumbs and granulated sugar in a mixing bowl. Stir in melted butter until moistened. Press mixture into a 9-inch pie pan. Bake at 350°F (175°C) for 10–12 minutes until golden. Cool completely.

Whisk together evaporated milk and instant lemon pudding mix in a large mixing bowl for about 2 minutes until it thickens. Set aside.

Beat softened cream cheese in another bowl for about 3 minutes until fluffy. Gradually add thawed lemonade concentrate, blending until combined.

Gradually fold the pudding base into the cream cheese mixture until fully incorporated and creamy.

Pour filling into the cooled crust, spreading evenly. Cover with plastic wrap and refrigerate for at least 4 hours or overnight.

Slice chilled pie into wedges and optionally garnish with whipped cream and lemon slices before serving.