In a medium bowl, combine graham cracker crumbs and melted butter until mixture resembles wet sand. Press evenly into the bottom of a 9-inch springform pan to form the crust.
In a large mixing bowl, beat the softened cream cheese until smooth. Gradually add powdered sugar and continue beating until creamy.
Blend in the egg nog, vanilla extract, and ground nutmeg. Mix until fully incorporated and smooth.
Gently fold the whipped heavy cream into the cream cheese mixture until light and fluffy.
Pour the cheesecake filling over the crust, smoothing the top with a spatula.
Refrigerate the cheesecake for at least 4 hours or overnight to set before serving.
Notes
For a richer flavor, garnish with toasted nutmeg or cinnamon before serving.