Cook the bacon in a large skillet over medium heat for 6-8 minutes until crispy. Transfer to a plate lined with paper towels to cool.

In a mixing bowl, combine mayonnaise, sour cream, apple cider vinegar, honey, salt, and pepper. Whisk until smooth.

In a large mixing bowl, combine thawed peas, diced red onion, crumbled sharp cheddar cheese, and cooked bacon. Pour the dressing over and fold gently.

Cover and refrigerate for at least 30 minutes before serving to meld the flavors.