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Peel, pit, and dice 2 pounds ripe peaches into 1/2-inch pieces; in a bowl, combine with 1/2 cup granulated sugar and 1 tablespoon fresh lemon juice (optional), stir, and let sit 30–60 minutes to macerate.
Transfer the macerated peaches and their juices to a saucepan; simmer over medium heat, stirring occasionally, until peaches are slightly softened and syrup thickens, about 5–7 minutes. Remove from heat and let cool completely.
In a large bowl, whisk together 2 cups heavy cream, 1 cup whole milk, the remaining 1/2 cup granulated sugar, 1 teaspoon vanilla extract, and a pinch of salt until the sugar dissolves.
Stir the cooled peach mixture into the cream base, cover, and refrigerate at least 4 hours or overnight.
Pour the chilled mixture into an ice cream maker and churn for 20–30 minutes until it reaches a soft-serve consistency.
Transfer the churned ice cream to an airtight container, press plastic wrap onto the surface, and freeze 4–6 hours until firm.