Add the butter and olive oil to a medium pot over medium-high heat.
Once the butter and olive oil start to shimmer, add the diced shallot (or onion) and let it sweat until slightly softened, about two minutes.
Stir in the minced garlic, thyme leaves, and red pepper flakes. Cook until you can smell the garlic, about 30 seconds. Add the uncooked orzo, stir to combine, and let it toast for about one minute.
Pour in the chicken stock and milk. Add the salt and pepper and bring to a boil. Reduce the heat and let the orzo simmer, stirring occasionally, until almost all of the liquid is absorbed and the orzo is cooked through. Make sure you keep it to a simmer so the liquid doesn’t boil off before the orzo has a chance to absorb it. This took about 15 minutes for me, a few minutes longer than the suggested time on the box of orzo I used.
Remove from heat and add the shredded smoked Gouda (finally!), lemon zest, and lemon juice. Stir to combine and breathe in that heavenly scent. Add a bit more salt and pepper to taste.
Garnish with more Gouda, a sprinkle of Parmesan, lemon zest, or red pepper flakes as you wish. Enjoy!