Pour broth into a pot and bring to a simmer, keep on low heat.
Heat a large skillet over medium heat and add olive oil. Add the chopped onion and sauté for several minutes until soft and tender, but not brown. Add minced garlic and cook for another minute or so. Add the arborio rice to the skillet and stir to coat it with the olive oil, onions, and garlic. Add the white wine and simmer until the wine has almost completely evaporated while stirring often, about 3 minutes.
Add 1/2 cup of the simmering broth into the arborio rice and stir until almost completely absorbed, about 2 minutes. The heat should be on medium to medium-low – not too hot that it burns on the bottom. Continue cooking the rice by adding the broth by the 1/2 cup and stirring constantly. Be sure to allow each addition of the broth to absorb almost completely before adding the next. This process should take about 20 minutes, and the rice should be tender but still a bit firm to the bite and the whole mixture is creamy.
Remove from heat, stir in pumpkin puree, pinch of nutmeg, salt and pepper, and 1/2 cup of parmesan cheese and stir.
To make the browned butter and crispy sage, add the butter to another skillet, along with a big handful of chopped sage leaves over medium heat until the butter is a pale golden color, stirring occasionally, about 3-4 minutes.
Serve with a pinch of salt and freshly ground black pepper, a drizzle of browned butter, crispy sage, more parmesan cheese and crispy bacon. Bon appetit!