In a medium saucepan, combine the yellow mustard, apple cider vinegar, light brown sugar, honey, ketchup, Worcestershire sauce, garlic powder, onion powder, smoked paprika, black pepper, cayenne pepper (if using), and salt.

Whisk all ingredients together until well combined and the sugar has largely dissolved.

Place the saucepan over medium heat and bring the mixture to a gentle simmer, stirring occasionally. Be careful not to boil vigorously.

Once simmering, reduce the heat to low and continue to cook for 15-20 minutes, stirring frequently to prevent sticking. The sauce should thicken slightly as it cooks. If it becomes too thick, add the 2 tablespoons of water or broth to reach your desired consistency.

Taste the sauce and adjust seasonings as needed. You might want to add a pinch more salt, a dash more vinegar for tang, or more cayenne for heat.

Remove from heat and let the sauce cool completely before transferring it to an airtight container or jar.