Preheat the oven to 350°F, grease and line two 9 inch pans, prepare the red velvet cake batter, divide evenly, and bake 25 to 30 minutes until a toothpick comes out clean; cool completely and level.
Toss sliced strawberries with sugar and let sit 15 minutes until juicy.
Cook diced strawberries with sugar and lemon juice for 5 minutes, stir in cornstarch slurry, cook until thick, then cool.
Beat cream cheese until smooth, add sugar, lemon juice, and vanilla, and beat until creamy.
Whip cold heavy cream to stiff peaks and gently fold into the cream cheese mixture; chill.
Place one cake layer on a serving plate and spread a thick layer of cheesecake filling on top.
Arrange macerated strawberries evenly over the filling.
Spoon the cooled strawberry compote over the strawberries.
Spread another layer of cheesecake filling, then add the second cake layer and press gently.
Frost the top, decorate as desired, and refrigerate at least 4 hours or overnight until set.