Preheat a grill, grill pan or regular pan to medium heat. To build the sandwich, spread a thin layer of bacon butter on one side of the bread. Add the brie and spread as much as possible. Add the peaches in a thin, flat layer across the sandwich. Sprinkle on some thyme and drizzle with hot honey. Top with shredded cheddar. Butter one side of the top piece of bread and place the buttered side down on the cheddar. When ready to grill, butter the top of the sandwich and place the buttered side down in the pan, butter the side that is now face up. Allow to cook until the bread is toasted, and dark golden brown, grill marks are on the bread (if using a grill or grill pan, if using a regular pan, uniform golden brown is the goal). Flip and cook uniformly on the other side. Remove from the heat and serve.