Add the peaches, granulated sugar, cinnamon, and 1 tbsp of water in a pot over medium heat.
Bring the liquid inside to a boil. Then allow the liquid to boil for a few minutes until the peaches soften.
In a small bowl, combine the remaining 4 ½ tbsp of water with the cornstarch. Mix until the cornstarch is completely dissolved, then add the mixture to the pot with the peaches. Stir for a few minutes until the juice thickens.
Remove the peaches from the heat and allow them to cool in the fridge to room temperature.
Once the peaches are cooled, begin making the egg rolls.
Crack the egg into a small bowl and beat it with a fork. Set aside.
Lay an egg roll wrapper in a diamond shape, with one corner pointing towards you and one corner pointed away. About ⅓ of the way up the wrapper, place about 2 tbsp of the peach filling (or more) in a horizontal line, leaving about ½” on the right and left sides.
Fold up the bottom corner to cover the filling and roll once. Wrap in the two side corners, then continue wrapping until you get to the final, far corner. Wet it with a bit of the beaten egg to hold it in place, then stick the final corner to the egg roll (see photos for clearer explanation).
Heat about 2” of oil until it’s hot enough that when you add an egg roll, it begins to bubble immediately (about 300 degrees Fahrenheit).
Deep fry the egg rolls in batches, about 4 at a time, turning them so that they cook evenly… When they are brown and the wrapper has bubbled, remove them from oil and let them rest on a paper towel-lined plate to remove excess oil.
Once the egg rolls are cooked, combine the powdered sugar, vanilla, and milk together to make the dipping sauce.
Dip the warm Peach Cobbler egg rolls in the dipping sauce and enjoy!
(I transferred the filling to a bowl and placed it in the fridge for 10 minutes)