In a large Dutch oven, cook diced bacon over medium heat for about 5-7 minutes until crispy and golden brown. Stir occasionally to ensure even cooking and prevent burning. Once done, use a slotted spoon to transfer the bacon to a plate lined with paper towels to drain, reserving the flavorful fat in the pot.

With the bacon fat still in the Dutch oven, add diced onion and sauté for about 5 minutes over medium heat until it turns soft and translucent.

While the onions are cooking, warm the chicken or vegetable stock in a saucepan over low heat. Whisk in the pumpkin puree until combined, keeping the mixture hot but not boiling.

Stir in a generous amount of fresh thyme, along with salt and pepper, to season the onions. Once evenly mixed, add Arborio rice to the pot, stirring constantly for about 1 minute to toast the rice.

Pour in the white wine and continue stirring until most of the liquid is absorbed, which should take around 2-3 minutes.

Begin adding the warm pumpkin-infused stock to the rice, one ladle at a time, stirring continually. Wait until the liquid is mostly absorbed before adding more.

Once the rice reaches the perfect consistency, remove the thyme sprigs. Stir in the butter, honey, and grated Parmesan cheese until everything is melted and creamy.