Add bacon to a large cast iron or other high-sided skillet and cook over medium-high heat for 6 to 8 minutes or until crisp, stirring frequently. Use a slotted spoon to transfer the bacon to the plate.

Remove and discard all but 1 tablespoon of bacon fat from the skillet. Add apples and thyme to the skillet and cook for 3 minutes, stirring frequently. Remove and discard thyme sprigs and transfer apples to plate with bacon.

Add pasta, 2 cups milk, salt and pepper to skillet. Heat to boiling over medium-high heat, stirring constantly. Reduce heat to medium-low; cook for 4 minutes or until milk is reduced to a thick sauce, stirring constantly.

Stir in the remaining 1-1/2 cups milk and cook 10 minutes or until pasta is al dente and milk has reduced by half, stirring frequently.

Turn off the heat. Add cheese and stir until cheese is melted. Top with reserved bacon and apples and serve immediately.