Whisk flour and salt in a bowl; set aside. Put butter and cream cheese into the bowl of an electric mixer fitted with the paddle attachment; mix on medium speed until combined. Reduce speed to low. Add flour mixture; mix to combine. Turn out dough onto a lightly floured surface. Roll into a ball; wrap in plastic. Refrigerate 6 hours (up to overnight).
Preheat oven to 325 degrees. Whisk sugar, cinnamon, and nutmeg in a bowl; set aside. Divide dough into quarters. Working 1 piece at a time, roll out to a 12-by-8-inch rectangle on a lightly floured surface. With long side facing you, spread with 3 tablespoons preserves, leaving a 1/4-inch border. Sprinkle with 1/4 cup each walnuts and currants, 2 tablespoons raisins, and 2 tablespoons sugar mixture. Tightly roll dough into a log; place, seam side down, on a parchment-lined baking sheet. Repeat with remaining dough.
Brush each log with cream; sprinkle with 1 teaspoon sugar mixture. Bake until golden brown, about 45 minutes. Transfer to wire racks; cool 15 minutes. Cut into 1-inch-thick slices. Store in an airtight container up to 2 days.
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