Score fat on ham slice. Place ham slice in a lightly greased large shallow dish; brush with hot sauce. Bake at 325° for 25 minutes or until meat thermometer registers 140°. Transfer to a serving platter.
Core apples and cut into 1/2"-thick rings. Stick cloves into apple rings. Combine water and cinnamon candies in a large skillet; bring to a boil, stirring until candies dissolve.
Add apple rings; reduce heat and simmer 5 minutes or to desired degree of doneness, turning frequently. Remove apple rings from skillet; set aside and keep warm.
Add sugar to skillet, stirring until sugar dissolves. Bring mixture to a boil; boil 10 to 12 minutes or until mixture is reduced to 1 1/2 cups. Add apple rings to skillet, turning to glaze both sides. Transfer cinnamon apple rings to serving platter. Spoon remaining glaze over ham and apple rings.