In a large bowl or the bowl of a stand mixer fitted with paddle attachment, beat cream cheese with sugar until no lumps remain. Add pink lemonade concentrate then mix until combined.
Fold in half of the whipped topping, reserving the remainder as topping for the pie. Pour filling into prepared crust and refrigerate approximately 4 hours or until set.
Top with reserved whipped topping, decorate with sprinkles if desired then slice and serve. Be sure to refrigerate any leftovers.
Notes
If you desire a bit more pink color to your pie, just add a few drops of pink or red food coloring.