Sauté the ground beef and diced yellow onion in a large pot over medium heat for 8-10 minutes until browned and onions are translucent. Drain excess grease.

Stir in the minced garlic and sauté for another minute until fragrant.

Pour in the beef broth, add Yukon Gold potatoes, paprika, kosher salt, and black pepper. Bring to a gentle boil, about 5 minutes.

Lower heat and let it simmer for 15-20 minutes, stirring occasionally, until potatoes are fork-tender.

Gradually stir in shredded cheddar cheese until fully melted.

Mix in heavy whipping cream and heat through for an additional 3-5 minutes.

Combine cornstarch with water to create a slurry; add to soup while stirring until thickened.

Ladle into bowls, garnish with parsley, and serve warm.