Well, as long as the cream cheese best before date is well within this time frame and when you whip it up, it looks good, it should be just fine. Icing made with butter, cream or milk and/or cream cheese, should hold up for up to 2 weeks (always check the best before dates on the dairy products and insure they are within the time frame) although, I prefer to stick within the 1 week to 10 days timeframe.
If you coloured your icing, it may get a funny smell from the food colouring. If this is a pretty standard cream cheese icing made with mostly cream cheese and icing sugar and butter, it will be fine. The only time you will have an issue is with an icing where one of the main ingredients is whipping cream.
Hugs Squirrelly Cakes