1. To prepare Caramelized Onions, heat butter in large nonstick skillet over medium-low heat until melted. Add onions, cranberries and salt; cook 40 to 45 minutes or until onions are very tender and golden brown, stirring often. Stir in wine; increase heat and bring to a boil. Cook, uncovered, 3 to 5 minutes or until wine is almost evaporated, stirring occasionally. Keep warm.
2. Meanwhile, heat oven to 425°F. Combine thyme and pepper; press evenly onto all surfaces of beef roast.
3. Place roast on rack in shallow roasting pan. Insert ovenproof meat thermometer so tip is centered in thickest part of beef. Do not add water or cover. Roast in 425°F oven 35 to 45 minutes for medium rare; 45 to 50 minutes for medium doneness.
4. Remove roast when meat thermometer registers 135°F for medium rare; 145°F for medium. Transfer roast to carving board; tent loosely with aluminum foil. Let stand 15 to 20 minutes. (Temperature will continue to rise about 10 to 15°F to reach 145°F for medium rare; 160°F for medium.)
5. Carve roast into slices; season with salt, as desired. Top slices evenly with cheese; top cheese with onions.