Preheat the oven to 350°F (175°C).

In a large mixing bowl, whisk together the flour, sugar, cocoa powder, baking powder, baking soda, and salt.

In another bowl, mix the vegetable oil, eggs, vinegar, vanilla, and food coloring until well combined.

Gradually add the wet mixture to the dry ingredients, mixing until just combined.

Pour the batter into a greased springform pan and spread it evenly.

Bake in the preheated oven for about 25-30 minutes, or until a toothpick inserted in the center comes out clean.

While the cake cools, prepare the cheesecake layer by beating the softened cream cheese until smooth.

Add the sour cream, powdered sugar, lemon juice, and vanilla extract; mix until combined.

Spread the cheesecake mixture over the cooled red velvet base, smoothing it out evenly.

Return the cake to the oven and bake for another 30-35 minutes or until the cheesecake is set.

Turn off the oven and leave the cheesecake inside for an additional hour to cool gradually.

Chill the cheesecake in the refrigerator for at least 4 hours or overnight.

Slice, serve, and enjoy your delicious red velvet cheesecake!