Preheat the oven to 350°F (175°C) and generously grease a 10-inch Bundt pan.

In a saucepan over medium-low heat, combine peaches, water, white sugar, brown sugar, butter, vodka (optional), cinnamon, vanilla extract, almond extract, and nutmeg.

Cook the mixture for about 20 minutes, stirring occasionally, until the peaches are tender and soft; set aside to cool.

In a small bowl, mix together brown sugar and softened butter for the topping until crumbly.

Spread the topping mixture evenly into the bottom of the prepared Bundt pan.

Toss sliced peaches with cinnamon and arrange them neatly over the topping.

In a large bowl, mix eggs, softened butter, buttermilk, sour cream, butter-flavored shortening, almond extract, and vanilla extract until well combined.

In a separate bowl, whisk together flour, sugar, cinnamon, and baking powder.

Gradually add the dry ingredients to the wet mixture, stirring until the batter is smooth and fully incorporated.

Pour half of the batter into the Bundt pan over the peaches and topping.

Spoon the peach filling over the batter layer.

Pour the remaining batter on top of the filling and smooth the surface.

Bake in the preheated oven for 45 minutes.

Reduce the oven temperature to 325°F (165°C) and continue baking for an additional 1 hour and 15 minutes, or until a toothpick inserted into the center comes out clean.