In a large saucepan over medium heat, bring the milk and 1/2 cup water to a simmer. This creates the base for your creamy sauce.
Whisk in the creamy potato soup mix and pepper. Cook for 2 to 3 minutes, whisking constantly, until the sauce thickens and becomes smooth.
Stir in the cooked elbow macaroni, 2 cups of shredded cheddar cheese, chopped bacon, and half of the finely chopped green onions. Mix until everything is evenly coated in the creamy sauce. I always make sure the bacon gets well distributed, so you get some in every bite.
Transfer the cheesy pasta mixture to a 9×13-inch baking dish. Sprinkle the remaining 1 cup of cheddar cheese evenly over the top, ensuring full coverage.
Broil the casserole for 3 to 5 minutes, or until the cheese on top is melted and golden brown. Watch carefully to avoid burning. Remove from the oven and sprinkle with the remaining green onions. For extra flavor, I sometimes add a pinch of fresh cracked pepper on top just before serving.