In a large pot, sauté onions and minced garlic until they turn translucent and fragrant, about 3-5 minutes.
Add the diced potatoes along with the chicken broth to the pot. Bring this mixture to a boil over medium-high heat while stirring occasionally.
Once boiling, reduce the heat and let it simmer until the potatoes are tender, about 15-20 minutes.
After the potatoes are tender, stir in the dried thyme, shredded cheddar cheese, and heavy cream until everything is well combined and melted into a creamy consistency.
Taste your soup and season it with salt and black pepper according to your preference.
Ladle your hearty potato soup into bowls and top each serving generously with crumbled turkey bacon before serving hot.