Preheat the oven to 350 degrees. Use 2 tablespoons of the butter to grease a 2 1/2-inch deep 10-inch baking dish and set aside.
Place 2 cups of corn kernels in the bowl of a food processor along with the eggs, cream, milk, flour, salt, pepper, and sugar and process for 10 seconds. Transfer the puree to a bowl; fold in the remaining corn kernels and thyme and pour the pudding into the buttered baking dish.
Place the baking dish in a roasting pan and add very hot water to reach halfway up the sides of the dish. Dot the top of the pudding with the remaining butter, place in the oven and bake for 1 hour, or until the pudding is firm but still quivering.