In a large pot or Dutch oven, heat over medium heat and add the ground beef along with the diced yellow onion. Cook for about 8–10 minutes until the beef is browned and the onions are softened, stirring occasionally. Once ready, drain off any excess grease.

Add minced garlic to the pot and sauté for an additional minute, stirring constantly until fragrant.

Stir in beef broth, diced Yukon Gold potatoes, paprika, kosher salt, and black pepper into the pot. Bring to a boil, then reduce heat to low and let it simmer for about 15–20 minutes, or until the potatoes are fork-tender.

Gradually add the shredded mild cheddar cheese to the pot, stirring continuously until fully melted.

Pour in the heavy whipping cream and stir to combine. Allow it to heat through for another 3–5 minutes.

In a small bowl, mix cornstarch with water to create a slurry. Slowly add to the soup while stirring constantly. Let it simmer for an additional 2–3 minutes until thickened.

Garnish the soup with freshly chopped parsley and additional cheese if desired. Serve hot with crusty bread.