Whisk the ricotta, milk, olive oil, salt and pepper by hand for about 2 minutes until light and fluffy. Alternatively, whisk on medium speed using a stand mixer fitted with the whisk attachment.
Optional: Allow to stand 15 minutes before serving so it comes to room temperature. (You can also do this with the container of ricotta before whisking it.) You can serve immediately if you like, it will just be slightly cold.
To serve, top with honey and if using, fresh thyme. Serve with warm pita bread, grilled bread, or crackers. Stores 4 to 5 days refrigerated (though check the date on your container to be sure).