In a large bowl, beat the softened cream cheese, granulated sugar, and vanilla extract until smooth. Add the egg and mix until well combined.
Shape the cream cheese mixture into small balls and place them on a parchment-lined baking sheet. Freeze for at least 1 hour, or until firm.
Prepare three shallow dishes: one with crushed graham crackers mixed with flour, one with beaten eggs, and one with panko breadcrumbs.
Dip each frozen cheesecake ball into the graham cracker mixture, then into the beaten eggs, and finally coat with panko breadcrumbs. Repeat until all balls are coated.
Heat vegetable oil in a deep fryer or large pot to 350°F (175°C). Fry the cheesecake bites in small batches for about 2-3 minutes, or until golden brown. Drain on paper towels.
Dust the fried cheesecake bites with powdered sugar and serve warm with strawberry sauce for dipping.