Give the idea of breaking bread a whole new meaning with this festive reimagining of classic Parker House Rolls. Place this stunner on the table and let family pull pieces off in a rustic fashion, or cut thick, even slices with a serrated knife.
For the Garlic-Herb Butter: In a food processor, combine parsley, thyme, garlic, and cheese and pulse until mixture has the texture of a paste. Add butter; pulse until fully combined and mixture has a vivid green color. Season with 1 teaspoon salt and freshly ground pepper to taste; pulse to incorporate. This can be made up to a week in advance and refrigerated in an airtight container. Return to room temperature before using.
For the Dough: Sprinkle yeast over water in a medium bowl. Let stand until foamy, about 5 minutes. Beat egg and add to bowl along with milk, sugar, salt, flour, and butter. Stir until a loose, slightly tacky dough forms (it will firm up when kneaded). Turn out onto a floured surface and knead until smooth and supple, about 5 minutes.
Transfer to a buttered bowl, cover with plastic wrap, and let stand in a warm, draft-free area until doubled in volume, about 1 hour. (Dough can be covered at this point and refrigerated up to 24 hours.)
To Assemble: Line a baking sheet with parchment. Turn dough out onto a lightly floured surface. Roll out to a 17-by-10-inch rectangle. Spread garlic-herb butter evenly over surface, all the way to edges. Starting at a long end, roll dough into a tight cylinder, pinching seam to seal. Transfer to baking sheet; refrigerate until firm, about 30 minutes.
Cut lengthwise through dough down center of log, leaving about 1/2 inch intact at one end; turn cut-sides up. Lift one length up and over the other; repeat with second length. Continue to overlap pieces to form a log. It should be about 22 inches long; if not, stretch it a bit to lengthen. Shape into a 9 1/2-inch-diameter circle, and pinch ends to seal.
Cover loosely with plastic; let stand until soft and nearly doubled in volume, about 30 minutes. Meanwhile, preheat oven to 375°F. Bake wreath until golden brown and baked through (internal temperature of about 200°), 25 to 30 minutes. Let cool on sheet on a wire rack about 15 minutes, then slide directly onto rack and let cool completely. Wreath is best enjoyed within 1 day; store tightly wrapped in plastic at room temperature.