Beat the cream cheese and sweetened condensed milk on high in a large bowl or the bowl of a stand mixer. Beat in the lemonade concentrate until smooth.

Fold in 8 ounces of the whipped topping, then pour the mixture into the pie crust, spreading it evenly to the edges.

Chill in the refrigerator overnight.

Before serving, spread the remaining 4 ounces of whipped topping over the top.

Cut two lemon slices into quarters.

Arrange the lemon quarters around the edge of the pie, placing one about 1 inch from the edge and another directly across from it, continuing until you have 8 evenly spaced “slices.”