Combine the vinegar, garlic and thyme in a small saucepan. Bring to a simmer over medium heat. Continue to simmer until reduced by half, about 5 minutes. Add the honey and simmer until the mixture has thickened slightly, another 3 to 4 minutes. Stir in the butter and set aside.
Preheat a grill pan over medium-high heat.
Season the pork chops evenly on both sides with 1 teaspoon salt and 1/4 teaspoon pepper. Drizzle with the olive oil and place on the hot grill pan. Grill the first side until nicely browned, about 5 minutes. Flip the chops and grill for an additional 5 minutes on the second side. Baste the chops with some of the sauce and then continue basting and flipping until the chops are caramelized and slightly charred and the meat registers 150 degrees F on an instant-read thermometer. Remove the chops to a platter and allow to rest for 10 minutes. Serve drizzled with the remaining sauce.