Blanch asparagus spears in salted water 2-3 minutes or until al dente. Shock in ice water.
Cut each prosciutto slice in half to create 2 long strips. Starting approximately one-fourth of distance from cut end, spiral wrap asparagus with prosciutto.
Heat Extra Melt Monterey Jack Cheese Sauce to 165°F using desired method. Drizzle in truffle oil and water, thinning sauce until smooth, blended and squeezable at room temperature. Transfer to squeeze bottle; hold for service.
Arrange asparagus on serving platter; top with truffle cheese sauce from squeeze bottle.