Heat a large skillet over medium heat. Add the ground meat and cook until browned, breaking it apart as it cooks. Drain grease if needed.
Add diced potatoes to the skillet. Stir and cook until tender, about 15–20 minutes. Add a splash of water and cover if needed.
Stir in the cream soup and milk mixture. Mix until smooth and simmer for 5 minutes until creamy.
Add salt, pepper, and shredded cheese. Cover for 2 minutes to melt, then serve hot.
