Start by rinsing 1 pound of Brussels sprouts under cold water. Trim off the tough ends and remove any yellow or damaged outer leaves. Slice each sprout in half lengthwise to maximize caramelization during roasting.
Chop 4 slices of turkey bacon into bite-sized pieces. In a skillet over medium heat, cook the turkey bacon until it becomes crispy, about 4-5 minutes. Drain on paper towels to remove excess fat.
In a large mixing bowl, combine the halved Brussels sprouts with 2 tablespoons olive oil, 1 teaspoon garlic powder, salt, and pepper to taste. Toss well to coat all the sprouts evenly.
Spread the seasoned Brussels sprouts evenly on a baking sheet in a single layer, cut side down for optimal caramelization. Roast in a preheated oven at 400°F (200°C) for 20 minutes, flipping halfway through.
After the initial roast, drizzle 3 tablespoons balsamic vinegar and 1 tablespoon honey (if using) over the Brussels sprouts. Toss gently to coat, then roast for an additional 5-7 minutes until the glaze thickens.
Remove the Brussels sprouts from the oven and immediately toss with the crispy turkey bacon pieces. Sprinkle freshly grated Parmesan cheese over the top if desired. Serve warm.