Line an 8x8-inch baking dish with parchment paper to facilitate easy removal. Place the chopped maraschino cherries on a plate lined with paper towels, gently pressing to extract as much liquid as possible and allow to sit for about 30 minutes. In a medium saucepan, combine the butter, sugar, heavy cream, and salt. Stir the mixture over medium-high heat until the butter and sugar are fully dissolved, then bring it to a rolling boil. Immediately insert a candy thermometer and cook, stirring often, until the temperature reaches 235°F. Once the desired temperature is achieved, remove the pan from the heat source. Gradually stir in the white chocolate chips and marshmallow cream until both are completely melted and incorporated. Blend in the drop of pink food coloring to achieve a delicate hue. Fold in the prepared cherries, ensuring they are evenly distributed throughout the mixture. Transfer the fudge into the lined baking dish, spreading it evenly into the corners. Let it rest at room temperature for 3 to 4 hours until fully set. Before serving, cut into 1-inch squares.