In a large skillet over medium heat, melt butter. Add carrots, salt, and pepper and stir until well-coated in butter, 2 miinutes. Add water and bring to a simmer. Cook, stirring occasionally, until liquid is reduced by half, 4 to 5 minutes.
Add honey and mustard and stir until evenly combined, then add peas. Cook, stirring frequently, until peas are warmed through and sauce clings to veggies, about 5 minutes more. Remove from heat.
Stir in lemon juice and top with cheese, if desired, before serving.
