peach tree growth
When peach trees spring up from the root of a tree killed by frost, will it produce good fruit?
The growth is most likely growing from the root stock.
What that particular root stock was and what it may produce are unknowns.
If you have the space and are curious, you certainly can leave it to grow.
I myself lost 2 Pear Trees to cold several years ago, I left the root stock to grow and they bloom each year and help act as pollinators for my other Pear Trees. They have not produced fruit!