
Combine stock and water in a medium saucepan and bring to a low simmer.
In a large Dutch oven, heat the butter over medium heat. Once it starts to bubble, add the onion and celery, and cook until softened, about 6-8 minutes. Add the garlic and cook for 30 seconds to 1 minute.
Add the rice and toast, stirring constantly for 2-3 minutes. Add the hot liquid to the pot (reserve 1 cup) and bring to a boil. Reduce heat, simmer, cover, and cook for 15-18 minutes. Stir once or twice during the cooking process. It’s important to maintain a low simmer.
Once the risotto has finished, give everything a good stir, making sure to scrape the bottom of the pan.
Stir in in pumpkin, parmesan, nutmeg, paprika, remaining broth, and cheese. Remove from the heat, cover, and let it sit for 5 minutes. Stir in any of the optional ingredients.