Heat 1 tablespoon neutral oil in a large skillet over medium-high heat until shimmering. Add 1 pound lean ground beef, 1 diced medium yellow onion, 1 teaspoon garlic powder, ½ teaspoon of the kosher salt, and ¼ teaspoon of the black pepper. Cook, breaking up the meat into medium pieces, until browned and cooked through, 6 to 8 minutes.

Stir in 1 ½ pounds halved baby gold potatoes, 2 teaspoons fresh thyme leaves, 1 teaspoon paprika, the remaining ½ teaspoon kosher salt, and ½ teaspoon black pepper.

Stir in 1 ½ cups low-sodium beef broth and ¼ cup heavy cream; bring to a simmer. Reduce the heat to medium, cover, and cook for 10 minutes. Uncover and stir. Continue to cook uncovered, reducing the heat to medium-low if the pan begins to look dry, until the potatoes are tender, 10 to 15 minutes more.

Stir in 4 ounces shredded sharp cheddar cheese until melted. Taste and season with more kosher salt as needed. Garnish with more fresh thyme leaves and black pepper if desired.