1 14–16 lb whole cured, smoked bone-in ham
2 Cups sweet Riesling, divided
2 Tbsp (1/4 stick) unsalted butter
1/4 Cup finely chopped shallots, freeze dried
1 tsp Thyme leaf plus 2 tsp more thyme
1/2 Cup whole grain mustard
1 Tbsp Honey Powder or Honey Balsamic Vinegar (really any balsamic will add a great sweetness and caramel color)
1/2 tsp freshly ground black pepper
Small pinch of kosher salt
Preheat oven to 300°F and position rack in the lowest possible spot. While leaving the fat intact, cut away the outer rind from most of ham, leaving a band around the end of the shank bone. Using a sharp knife, score the fat layer crosswise (be careful to not cut into the meat!) on top of the ham, making cuts spaced about 1/2″ apart.
Place prepared ham in a large roasting pan. Meanwhile, combine 1 Cup of the Riesling and 7 Cups of water in a saucepan, and bring to a boil over high heat. Boil mixture for 5 min. before pouring into the roasting pan. Bake the ham, using pan juices to baste intermittently, about 2-1/2 or 3 hours, or until an instant-read thermometer inserted into center of ham registers 110°F.
While the ham roasts, melt the butter in a medium-sized skillet, over medium heat on the stove. Add the freeze-dried shallots and 1 tsp thyme to the melted butter and cook, stirring often, until shallots are soft and somewhat translucent, about 10 min. Remove skillet from heat and stir in the remaining 1 Cup of Riesling before returning the pan to the stove. Increase heat under the pan to medium-high and bring mixture to a simmer. Cook shallot-wine mixture, stirring frequently, until liquid is reduced to 1/4 Cup, about 8 min. Allow mixture to cool for 5 min, while you remove or strain the thyme sprigs from the sauce. Transfer mixture to a food processor, and add mustard, honey, pepper, and salt. Process mixture until well blended.
Remove ham from the oven and increase temp to 350°F. Using a pastry brush, spread the Riesling-mustard-shallot mixture over the ham. Sprinkle with remaining 2 tsp of thyme, before returning pan to oven. Continue to bake ham, tenting with foil if it begins browning too quickly, until internal temperature rises to 135°F and crust is golden brown, 15-30 min.
Transfer the ham to a serving platter. Allow meat to rest for 30 min before carving. Skim fat from pan juices and reheat the skimmed liquid. Pour the reheated juices into a gravy boat or small pitcher; serve alongside the ham.