In a large skillet over medium heat, add the chopped bacon and cook for 5–7 minutes, stirring occasionally, until it becomes crispy and golden brown. Remove the bacon and place it on a paper towel-lined plate to drain, reserving the drippings.

With the bacon drippings still in the skillet, add 1 tablespoon of extra-virgin olive oil. Place the shelf-stable gnocchi into the pan, sautéing for 5–7 minutes until they turn golden and crispy, stirring gently. Transfer the crispy gnocchi to a plate and set aside.

In the same skillet, add the chopped onion and cook for 5 minutes, stirring frequently, until softened and translucent. Incorporate the minced garlic and chopped fresh thyme, cooking for an additional 1 minute until fragrant.

Slowly add the reduced-fat milk, cream cheese, unseasoned canned pumpkin, and a pinch of ground black pepper to the skillet. Whisk together vigorously for 3–4 minutes over medium heat until the sauce is smooth and creamy.

Return the sautéed gnocchi and crispy bacon to the skillet, tossing everything together until the gnocchi are coated in the pumpkin sauce. Allow the dish to heat through for an additional 2–3 minutes.

Stir in the grated Parmesan cheese, allowing it to melt into the sauce. Taste and adjust the seasoning if necessary, then serve hot, garnished with extra thyme if desired.