Preheat oven to 375° F. Line a 10x15-inch jelly-roll pan with parchment paper. Grease and flour the parchment paper.
Sift 1/4 cup powdered sugar onto a thin, cotton kitchen towel Set aside.
Beat eggs and granulated sugar in a large mixing bowl until well-combined.
Mix in pumpkin purée.
Add flour, baking powder, baking soda, pumpkin pie spice, and salt.
Stir in dry ingredients just until combined.
Spread evenly into prepared pan.
Bake for 11-15 minutes, or until top of cake springs back when touched.
Immediately place the towel, powered sugar side down, on top of the cake.
Place a wire cooling rack on top of the towel.
Invert, and carefully peel off the parchment paper.
Roll up cake and towel together, starting with narrow end.
Place seam side down, and cool completely on wire rack.
To make the frosting, beat cream cheese and butter together for 30 seconds.
Add the powdered sugar, whipping cream, and vanilla extract.
Beat on low for 30 seconds.
Increase speed to high, and continue beating until well-combined.
Carefully unroll cake.
Spread cream cheese mixture over cake, leaving about a 1/2-inch border around the edge.
Reroll cake, seam side down.
Wrap in plastic wrap, and refrigerate for at least one hour. The cake can be stored in the fridge for 2-3 days or frozen for up to 1 month at this point.
Sprinkle with powdered sugar just before serving, if desired.
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Notes
Pumpkin pie spice - If you don't have any pumpkin pie spice, you can make your own homemade blend with this recipe.
Pumpkin puree - Be sure to use puree, not pumpkin pie mix.
Cream cheese - I recommend full-fat cream cheese in the frosting. Sometimes reduced-fat cream cheeses have a tendency to be softer and not set as well. I don't recommend using fat-free cream cheese in this recipe.
Butter - I use salted butter. If using unsalted butter, add a pinch or two of salt to the frosting.
Heavy cream - Using heavy cream makes the frosting lighter and fluffier. You can use milk if you prefer, but the frosting won't be quite a light or as fluffy.