Preheat oven to 425 degrees.

Add flour, baking powder, salt, onion powder, and mix well in bowl. Create a well in the center of the flour mixture.

Add milk, butter, bacon, cheddar, and thyme to the well, and mix until incorporated (If mixture seems to dry, add a little bit more milk, one tablespoon at a time until the mixture comes together).

Take egg and water and beat together until incorporated.

Scoop biscuit with an ice cream scoop or ½ cup size. Brush biscuit with egg wash. Bake for 20 minutes until golden brown.