In a large pot or Dutch oven, heat over medium heat. Add the ground beef and diced yellow onions, cooking for about 8-10 minutes until the beef is browned and the onions become translucent. Stir occasionally, breaking up the beef with a spatula. Once cooked, drain any excess grease.

Stir in the minced garlic and sauté for an additional minute, until fragrant.

Pour in the beef broth, then add the diced Yukon Gold potatoes, paprika, kosher salt, and black pepper. Stir well to combine all the ingredients and bring to a boil, taking about 5-7 minutes.

Lower the heat to a gentle simmer, allowing the soup to cook uncovered for 15-20 minutes, stirring occasionally until the potatoes are fork-tender.

Once the potatoes are tender, gradually stir in the shredded mild cheddar cheese until completely melted and creamy, about 3-5 minutes.

Pour in the heavy whipping cream and stir to combine, heating through for an additional 3-5 minutes without letting the soup boil.

In a small bowl, mix cornstarch with a bit of water to form a slurry. Slowly add this into the soup while stirring, allowing to simmer for another 2-3 minutes until thickened.

Ladle the soup into bowls and garnish with chopped parsley and additional cheese if desired.