In a saucepan, heat milk, cream, reduced cherry puree, and cherry preserves until steaming.
In a bowl, whisk egg yolks, sugar, cornstarch, and salt until smooth.
Slowly whisk in hot liquid to temper.
Return mixture to saucepan.
Cook over medium-low heat, whisking constantly until thick.
Once bubbling, cook 10–15 seconds more.
Remove from heat and whisk in butter, vanilla, and almond extract.
Strain immediately through a fine mesh sieve.
Whisk in fresh cherry puree.
Cover surface with plastic wrap and chill for at least 2 hours.
Whisk smooth before using.