Preheat air fryer to 350°. In a small bowl, mix butter and peach preserves until combined; set aside.
Sprinkle chops with seasonings. Place in greased air-fryer basket. Cook until no longer pink, 2-3 minutes on each side. Remove and keep warm.
Cut peppers into thin strips. Place in greased air-fryer basket. Cook until crisp-tender and lightly browned, 5-6 minutes, stirring occasionally. Return chops to basket; top with butter mixture. Cook until butter is melted, 1-2 minutes. If desired, serve with rice.