Thick and creamy.
Melt butter in a stock pot over medium heat. Add onion, thyme, white and cayenne pepper; cook until onions are tender, 4 to 5 minutes. Combine chicken broth, beer and 1/2 cup corn starch, stirring until corn starch is dissolved. Add to stock pot and bring to a boil. Reduce heat.
Simmer 5 minutes. Add cream. Toss cheese with 1/4 cup corn starch. Gradually add cheese to soup, stirring until melted before adding more cheese. Add hot pepper sauce.