Lightly grease an 8" x 8" cake pan and line it with parchment paper for easy removal.

Combine the black candy melts in a bowl and microwave on high for 2 minutes, stirring every 30 seconds until smooth.

Repeat the melting process for the red candy melts in a separate bowl using the same timing.

Microwave the cream cheese frosting for about 45 seconds to soften it.

Divide the cream cheese frosting between the bowls of melted candy melts and stir until fully blended.

Pour alternating layers of the black and red mixtures into the prepared pan, allowing the layers to slightly overlap.

Tap the pan on the counter to release air bubbles and refrigerate for at least 4 hours.

Lift the fudge out of the pan using the parchment overhang and slice into squares.