All ingredients ready? Let's begin!
Fill a large pot with water, about ⅔ full. Add 1 ½ tablespoons of kosher salt to the water. Bring this to a boil over high heat. (Start preparing the sauce while the water comes to a boil and the pasta cooks – steps 2, 3, 4, and 5).
Add the pasta to the boiling water and cook according to the package directions. Add the asparagus to the pasta just before the final 60 seconds of cooking. Reserve 1/3 cup of the pasta water for the sauce and then drain the pasta in a colander.
While the water is coming to a boil start the sauce. Place a large skillet over medium-high heat. Add the pancetta and cook until it begins to crisp up, stirring often, approximately 3 to 5 minutes.
Add the thinly sliced garlic, thyme, and cayenne flakes to the skillet and sauté for 30 seconds or until fragrant.
Carefully add the wine, pepper, and salt. Stir the deglaze the pan while the wine reduces, approximately 2-1/2 minutes.
Add the cream and continue to cook for an additional 3 minutes until the sauce starts to thicken. Stir in the parmesan cheese.
Add the pasta and asparagus to the skillet. Using tongs or a large spoon, toss to completely coat the pasta with the sauce. If the sauce is too thick, thin it with some of the reserved pasta water.
Transfer the pasta to a serving bowl and garnish it with parsley. Serve immediately while warm with more cheese on the side.