Combine Ingredients: In a medium saucepan, whisk together ketchup, apple cider vinegar, brown sugar, honey, and Worcestershire sauce. Add smoked paprika, garlic powder, and hot sauce if using.
Simmer the Sauce: Bring mixture to a simmer over medium heat, stirring occasionally.
Cook Until Thickened: Reduce heat to low. Cook for 15–20 minutes, stirring more frequently as it thickens. Watch for bubbling.
Taste & Adjust: Taste and season with salt, pepper, or extra vinegar/honey as desired.
Cool & Store: Remove from heat. Let cool slightly — sauce will thicken more as it cools. Store in an airtight container in the fridge for up to 2 weeks.