Line a baking dish with 3 layers of paper towels; spoon ricotta onto paper towels and let sit 20 minutes (if the ricotta is too wet, the dough won’t hold together).

Combine ricotta, eggs, Parmesan, and salt in a food processor; season with pepper and process until smooth. Add flour and pulse just to combine (mixture should be smooth and fairly wet). Transfer gnocchi mixture to a pastry bag fitted with ½” round tip or a large resealable plastic bag.

DO AHEAD: Gnocchi mixture can be made 1 day ahead. Cover pastry tip and chill.

Cook asparagus in a large pot of boiling salted water until bright green and crisp-tender, about 1 minute. Using tongs or a mesh strainer, transfer to a bowl of ice water to cool; drain. Slice asparagus on the diagonal into bite-size pieces, leaving tips intact.

Reduce heat so water is simmering. If using a resealable plastic bag for gnocchi mixture, cut a ½” opening in bottom of bag. Working in 3 batches, pipe dough into pot, cutting off 1” lengths with a paring knife and letting dough drop into water. Cook until doubled in size, about 3 minutes. Using a slotted spoon, transfer gnocchi to a lightly oiled baking sheet. Reserve ¼ cup cooking liquid.

Heat 2 Tbsp. oil in a large skillet over medium heat. Cook morels, tossing occasionally, until slightly softened, about 5 minutes. Add shallot and cook, tossing occasionally, until shallot and morels are soft, about 5 minutes; set aside.

Add gnocchi, asparagus, peas, butter, and reserved cooking liquid to skillet with morels. Cook, tossing gently, until vegetables are warm and sauce has thickened slightly, about 2 minutes; season with salt and pepper. Serve topped with chives, Parmesan, and lemon zest.