Cashew milk is one of the thickest nut milks, with a mild flavor that makes it ideal as a plant-based swap in this classic sipper. Compared to store-bought versions, our nog has about half the calories and 2/3 less sugar per serving.
Place cashew milk, coconut milk, and dates in a blender; let stand 30 minutes.
Add vanilla bean paste and nutmeg to blender. Process on high until smooth, about 2 minutes, stopping to scrape down sides as needed. Pour mixture through a fine wire-mesh strainer into a pitcher; discard solids. Chill at least 2 hours or up to overnight. If desired, grate whole nutmeg over servings for garnish.