In a pot, add in the milk and water and set the stove to high heat
(Optional, but highly recommended) While you are waiting for the water/milk to come to a boil, toast the steel cut oats on medium low heat on a dry frying pan. Make sure you are constantly stirring or shaking the pan so that it doesn't burn. Toast it until it is golden brown (approximately 3-4 minutes)
Once the water/milk starts to boil, adjust the stove to medium-low heat
Add in the steel cut oats and stir.
Cook it for approximately 10 minutes, or until most of the liquid has been absorbed into the oats (approximately 10 minutes). Stir it occasionally so that it doesn't stick to the bottom of the pan.
Once the oats are cooked and creamy looking, adjust the stove to low heat and stir in the miso. Mix well until the miso has melted into the oatmeal.
Turn off the heat and stir in the grated cheese and mix well until the cheese has melted and the oatmeal looks creamy. If it is too think, you can add a few tablespoons of hot water and tweak it to the consistency you like.
Stir in the caramelized onions and it's done!
Spoon some in a bowl, top it with a soft boiled egg and some additional garnishes and eat!