Cook bacon in a Dutch oven over medium heat until crisp. Remove bacon from pan; crumble. Add onion to drippings in pan; sauté 5 minutes. Stir in thyme, broth, and baking potato; bring to a boil. Reduce heat; simmer 10 minutes.
Add whole-kernel corn and next 4 ingredients (whole-kernel corn through milk); bring to a simmer. Stir in fish; cook 9 minutes or until fish flakes easily when tested with a fork. Add potato flakes, and cook until thick (about 1 minute); stir constantly. Sprinkle bacon evenly over each serving. Garnish with ground pepper, if desired.