Activate the Yeast: In a small bowl, combine warm milk and granulated sugar, then sprinkle the active dry yeast over the top. Allow this mixture to sit for 5-10 minutes until it becomes frothy.

Make the Dough: In a large mixing bowl, combine melted butter, salt, and the beaten egg. Add yeast mixture and gradually incorporate all-purpose flour, mixing until a soft, cohesive dough forms.

Knead the Dough: Lightly flour your work surface and turn the dough onto it. Knead for about 5 minutes until smooth and elastic, then let rise in a greased bowl for approximately 1 hour.

Prepare the Filling: Combine peach preserves, ground cinnamon, brown sugar, ground nutmeg, and melted butter in a bowl and stir until well blended.

Roll Out the Dough: Once risen, punch the dough down and roll it into a 16x12-inch rectangle.

Assemble the Rolls: Spread the peach filling across the rolled-out dough, leaving a small border around the edges.

Roll and Seal the Dough: Starting from one long edge, roll the dough tightly into a log and pinch the seam to seal.

Cut the Rolls: Cut the log into 12 equal pieces and place in a greased baking dish.

Second Rise: Cover and let rolls rise for an additional 30 minutes in a warm area.

Bake the Rolls: Preheat oven to 350°F (175°C) and bake for 20-25 minutes until golden brown.

Prepare the Glaze: Whisk together powdered sugar, milk, and vanilla extract until smooth.

Drizzle and Serve: Drizzle the glaze over warm rolls and enjoy!