Immerse corn, husks on, in a large bowl of cold water. Let soak for at least 30 minutes.
Melt the butter in a small saucepan over low heat. Add the minced chipotle chili, lime juice, salt, and black pepper; cook for 30 seconds, stirring to blend flavors.
Preheat the grill to medium-high. Husk corn; brush with chipotle butter to coat. Grill about 4 minutes, turning frequently, or just until the corn is tender and nicely browned. Top immediately with crumbled cheese, and serve with lime slices, if desired.