Line a 9-inch square pan with parchment paper, leaving an overhang on two sides for easy removal; set aside.
Soften the butter in the microwave 10–15 seconds if needed. In a medium bowl, beat the softened butter with the granulated and light brown sugars until combined.
Mix in the creamy peanut butter, scraping the bowl sides as needed, then add the all-purpose flour and vanilla and mix until the flour is incorporated.
Fold in the rolled oats, adding them gradually if desired, then stir in 3/4 cup M&M's until evenly distributed.
Press the cookie mixture firmly and evenly into the prepared pan to form a compact base.
Place the dark chocolate chips and heavy whipping cream in a microwave-safe bowl. Microwave in 30-second intervals, stirring between each, until the chocolate is melted and smooth.
Pour the warm chocolate ganache over the cookie base and spread into an even layer, then sprinkle the remaining 1/4 cup M&M's on top.
Let the ganache set at room temperature briefly, then refrigerate the pan until the bars firm up, at least 1 hour.
Use the parchment overhang to lift the bars from the pan and cut into 16 bars before serving.