Wash and peel the vegetables. Dice the potatoes and carrots into small, even pieces. Finely chop the onion and mince the garlic.
In a large pot, heat the olive oil over medium heat. Add the diced onion and minced garlic. Sauté for 3-4 minutes until the onion is translucent. Add the ground beef and cook for 5-7 minutes until browned.
Add the beef broth, diced potatoes, carrots, and frozen corn. Sprinkle in the dried thyme, paprika, salt, and pepper. Bring to a boil, then reduce heat to low.
Cover and let simmer for 20-25 minutes until the potatoes and carrots are tender. Stir occasionally.
Stir in the heavy cream and shredded cheddar cheese. Cook for an additional 5 minutes, stirring constantly until the cheese melts.
Taste and adjust seasoning if needed. Serve hot.