In a large mixing bowl, combine all-purpose flour, granulated sugar, rapid rise instant yeast, and salt. Heat the milk and butter over medium until the butter melts, then let it cool slightly. Gradually mix the warm milk mixture into the dry ingredients, followed by the egg, almond extract, and vanilla extract. Beat until the mixture is smooth and well combined, achieving a soft dough.

Fit your stand mixer with a dough hook and gradually add more flour until the dough pulls away from the sides of the bowl and forms a cohesive ball. Continue kneading for approximately 10 minutes until the dough is smooth and elastic.

Transfer the kneaded dough to a lightly oiled bowl, covering it with a clean kitchen towel or plastic wrap. Place it in a warm, draft-free area for about 1 hour, or until the dough has doubled in size.

While the dough is rising, prepare the almond filling. In a medium bowl, mix together the softened unsalted butter, almond meal, egg, almond extract, and vanilla extract until you achieve a thick paste.

Once the dough has risen, punch it down to release excess air, then turn it out onto a floured surface. Roll the dough into a large rectangle, about ¼ inch thick. Spread the almond filling evenly over the surface, then roll the dough tightly from the longer side.

Place the cut rolls into a greased baking dish, ensuring they are close together but not touching. Cover the dish with a kitchen towel and allow the rolls to rise for about 1 hour.

Preheat your oven to 350°F (175°C). Once preheated, place the rolls in the oven and bake for approximately 30 minutes, or until the tops are golden brown.

After removing the rolls from the oven, let them cool in the pan for about 10 minutes. Prepare the frosting by mixing cream cheese and powdered sugar until creamy.

Once the rolls are slightly cooled, generously spread the frosting on top and sprinkle with slivered almonds. Serve warm.