In a microwave-safe bowl, add in the milk chocolate chips and heavy cream. Microwave for 45 seconds and stir.
Microwave for another 45 seconds and stir until smooth. It may take some time for the ganache to come together and smooth out but keep stirring and it should do it. If there are still lumps, microwave another 25 seconds and that should melt the remaining bits of chocolate.
Cover with plastic wrap and chill in the fridge for an hour to thicken up.
In a microwave-safe bowl, add in the milk and butter.Microwave for 1 minute. If you have a thermometer, check to make sure it's at 110 degrees.
Add in the yeast and give it a stir.
Measure out the sugar and sprinkle about 2 teaspoons of the sugar into the milk and butter mixture. This will feed the yeast. Let it sit for about 5 to 10 minutes to let the yeast proof. It will become foamy.
Meanwhile, in a large glass mixing bowl, add in the remaining sugar and flour. Stir to combine.
Push the flour and sugar to the outside of the bowl and leave a well in the center.
Add the foamy yeast and milk mixture, egg and vanilla bean paste. Stir to combine the liquids in the center without incorporating the well.
Using a spatula, stir the flour into the wet ingredients until combined. It will still be sticky.
On a clean work surface, add 2 T. of flour. I worked on a piece of parchment paper. Knead the dough about 10 times to get the flour incorporated and reduce the stickiness.
Spray the glass bowl with non-stick cooking spray or add 1 T. of vegetable oil. Place the dough in and spray the top with non-stick cooking spray. If you used the vegetable oil, roll the dough into the oil so the top is covered in the oil as well as the bottom.
Cover with plastic wrap or a tea towel and place in a warm area. Let it rise until doubled in size. It took mine about two hours.
Once the dough is doubled in size, add 2 T. of flour onto the clean surface. Roll the dough out onto the flour and place some of the flour on top of the dough. Press the dough to be about ½ inch thick. I just used my hands.
Cut out donuts using a 3 inch circle cookie cutter. Place on a baking sheet with a piece of parchment paper sprayed with non-stick cooking spray. Space them out so they don't touch when they rise.
Place the donuts in a warm place to rise and cover loosely with plastic wrap. Mine took about 1 hour to rise.
While the donuts are rising, add about 2 to 3 cups of vegetable oil into a heavy-bottom saucepan. Using a candy thermometer, let the oil come up to 350 degrees.
Place the donuts two at a time into the hot oil. Adding too many donuts will drop the temperature and give you oily donuts. Let it cook about 2 minutes and flip. Let cook for another 1 to 2 minutes and place onto a plate lined with paper towels.
Peanut Butter Frosting
In a large mixing bowl, add in the butter and peanut butter. Mix on medium until incorporated.
Add in the powdered sugar and milk and mix on low until almost combined. Turn the mixer on high and whip for 1 minute until light and fluffy.
Add the peanut butter frosting into a piping bag with the #230 Bismarck tip or a small round tip. Pipe the frosting into the donuts until the donuts are plump.
Dip the top of the donuts in the thickened ganache. Hold it upside down for a few seconds to help drain off any excess ganache.
If you want it thicker, repeat the dipping.
Let the ganache set up about 5 minutes and then add the Reese's to the top.
I recommend eating them within the first day otherwise they will get hard.