Place the frozen meatballs directly into the slow cooker. There is no need to thaw them first.
In a bowl, whisk together the condensed French onion soup, onion soup mix, and beef broth until combined.
Pour the French onion mixture over the meatballs and gently stir to coat them in the sauce.
Cover and cook on high for 2 hours, or until the meatballs are hot throughout.
In a small bowl, stir together the cornstarch and cold water until smooth. Stir the slurry again immediately before adding it to prevent settled cornstarch from remaining at the bottom.
Pour the slurry into the slow cooker and gently stir it into the sauce. The sauce should begin thickening quickly. Continue cooking on high for 5 to 10 minutes if needed.
Turn off the slow cooker or reduce it to the warm setting.
Sprinkle the grated Gruyère evenly over the meatballs. Cover and allow the cheese to melt for about 10 minutes.
Garnish with fresh thyme and serve warm.