In a large, high-sided skillet over medium-high heat, cook bacon until crispy, 8 to 10 minutes. Using tongs, transfer bacon to a paper towel-lined plate. When cool enough to handle, break into small bite-size pieces.
Pour off excess fat into a small heatproof bowl, keeping enough to coat bottom of pan; reserve bacon fat for another use. Return pan to medium heat and add asparagus; season with salt and pepper. Cook, stirring occasionally, until asparagus is tender, 4 to 6 minutes. Transfer asparagus to a bowl.
Pour oil into pan if pan looks dry and heat over medium heat. Cook shallot and thyme, stirring occasionally, until fragrant, 1 to 2 minutes.
Add gnocchi, cream, broth, and ½ teaspoon salt and stir to combine. Bring to a simmer, cover pan, and cook 4 minutes. Uncover and continue to cook, stirring frequently, until sauce has thickened to desired consistency, 1 to 2 minutes more.
Remove pan from heat and stir in asparagus and Parmesan. Top with bacon and thyme.
Recipe by 5* trending recipes with videos at https://food.theffeed.com/2023/03/05/creamy-asparagus-bacon-gnocchi/