Prepare bacon and glaze components: Cook ½ pound bacon in oven at 400°F for 15-20 minutes until crispy. Drain, cool, and crumble into small pieces. Mix Tony Chachere's Ham & Bacon Injectable per package instructions. Gather remaining glaze ingredients.
Preheat smoker and prepare ham: Set pellet smoker to 250-275°F. Preheat 10-15 minutes with apple, cherry, maple, or pecan pellets. Remove ham from packaging, pat dry. Place cut side down in foil pan. Optional: add ½ cup apple juice to pan bottom. Smoke 1 to 1½ hours until 120-125°F internal.
Make glaze: In saucepan over medium heat, melt 3 tablespoons butter. Add honey, brown sugar, prepared Tony Chachere's injectable, Dijon mustard, and apple cider vinegar. Simmer 3-4 minutes, stirring constantly. Add red pepper flakes, garlic powder, and black pepper. Simmer 2-3 minutes until thickened. Remove from heat and stir in crispy bacon bits.
Apply first glaze coat: When ham reaches 120-125°F, brush generous coat of honey bacon glaze over entire exterior. Work glaze between spiral cuts with silicone brush. Let bacon bits fall between slices. Return to smoker uncovered.
Build glaze layers: Continue smoking until 135-140°F internal temperature. Apply second glaze coat at 130°F. Apply third coat at 135°F. Each application builds caramelized layers. Monitor closely to prevent burning. Reduce to 225°F if edges darken too much.
Rest and finish: Remove ham when internal temp reaches 135-140°F. Rest 10-15 minutes. Optional: drizzle with warm honey and sprinkle with Tony Chachere's seasoning and red pepper flakes. Serve from pan or transfer to cutting board.