Preheat oven to 425°F. Line a baking tray with parchment paper.
Cut puff pastry into a smaller square so that it will just wrap over brie. Place pastry onto the baking tray.
Place brie in the centre of the pastry. Spoon half of cranberry sauce over the top of the brie, reserving some sauce for serving. Fold each corner of the pastry towards the centre, covering the brie. Brush pastry with beaten egg and sprinkle with sugar.
Bake until pastry is golden brown, 25-30 minutes.
Transfer baked brie to a serving board or platter with crackers. Drizzle with honey and garnish with fresh thyme. Serve with extra cranberry sauce and honey.