HEAT deep fryer or Dutch oven with oil to 350ºF.
IN a large saute pan over medium low heat, melt butter. Whisk in cream cheese spread, brown sugar, cinnamon and lemon juice until sugar is dissolved and mixture is a smooth sauce.
FOLD in apples; cover and continue to cook until the apples are just soft, approximately 15 minutes. Remove from heat and allow to cool.
WHEN the filling is cool, roll the biscuits out on a lightly floured surface so that each biscuit forms a 6- to 7-inch circle. Place 2 to 3 tablespoons of the filling on each biscuit circle.
BRUSH the edge of each circle with water; fold the circle over the filling to make a half-moon shape. Seal by pressing the edges with the tines of a fork.
CAREFULLY add the pies to the oil, one (1) at a time, and fry until golden brown, turning the pies as necessary. Sprinkle with powdered sugar and drizzle with prepared caramel topping. Serve with vanilla ice cream, if desired.