Cook bacon: In a large skillet over medium heat, cook bacon until crisp. Remove and set aside, leaving the drippings in the pan.
Sauté gnocchi: Add olive oil to the pan. Sauté gnocchi for 5–7 minutes until golden and slightly crisp. Remove and set aside.
Sauté aromatics: In the same pan, add onions and cook until softened, about 5 minutes. Stir in garlic and thyme, cooking 1 minute more.
Make the sauce: Add milk, cream cheese, pumpkin, and pepper. Whisk until smooth and creamy, about 3–4 minutes.
Combine: Return gnocchi and bacon to the pan. Toss to coat in sauce and heat through.
Finish: Stir in Parmesan cheese and adjust seasoning to taste.
Serve hot, garnished with extra thyme and more Parmesan if desired.
