1. Bring 4 cups water to a boil in a saucepan. Add asparagus, and cook for 2 minutes. Drain. Bring 2 cups water and chicken broth to a simmer in a saucepan.
2. Heat a large saucepan over medium heat. Add olive oil, and swirl to coat. Add onion; cook 4 minutes. Add garlic, and cook for 2 minutes, stirring constantly. Stir in rice, edamame, and salt; cook for 1 minute. Stir in 1 cup broth mixture; cook for 4 minutes or until liquid is nearly absorbed, stirring constantly. Add remaining broth mixture, 1/2 cup at a time, stirring constantly until liquid is absorbed before adding more (about 20 minutes total).
3. Stir in asparagus, cream cheese, and pepper; cook 1 minute. Spoon 1 cup risotto into each of 4 bowls. Top each serving with 1 tablespoon Parmesan cheese; sprinkle evenly with thyme.