Pat the pork chops dry with paper towels. Rub them with 1 tablespoon of olive oil, then season both sides with kosher salt, black pepper, garlic powder, onion powder, smoked paprika, and cayenne pepper if using. Let the chops sit at room temperature for about 15 minutes while the grill heats.

Add the peach preserves, barbecue sauce, apple cider vinegar, Dijon mustard, Worcestershire sauce, minced garlic, and hot sauce to a small saucepan. Simmer over medium-low heat for 4 to 5 minutes, stirring frequently, until smooth and slightly thickened. Reserve ⅓ cup of clean glaze for serving.

Preheat the grill to 400–425°F with direct and indirect heat zones. Clean the grates and lightly oil them to prevent sticking. Toss the peach wedges with the remaining tablespoon of olive oil.

Place the pork chops over direct heat. Grill for 3 to 4 minutes per side, without moving them unnecessarily, until the exterior is browned and marked by the grill.

Move the chops to indirect heat and brush them with the peach barbecue glaze. Close the grill and cook for another 5 to 8 minutes, turning and glazing once more, until the thickest portion reaches 145°F. Discard any glaze that came in contact with the basting brush used on the pork.

During the final 4 minutes, place the peach wedges over direct heat. Grill for approximately 2 minutes per side, until lightly charred and warmed through but still holding their shape.

Transfer the pork chops to a clean platter and rest for at least 3 to 5 minutes. Spoon or brush the reserved clean peach barbecue glaze over the chops and serve with the grilled peach wedges.