Combine thawed frozen cranberries, light brown sugar, and 1/4 cup water in a food processor; process until cranberries are roughly chopped and sugar has almost dissolved, about 30 seconds. Transfer to a large bowl. Add bourbon, fresh lemon juice, honey, and remaining 1⁄4 cup of water; stir until well combined and sugar is dissolved. Pour mixture through a fine wire-mesh strainer into a 3- to 4-quart pitcher, discarding solids.

Chill at least 1 hour or up to 8 hours. Just before serving, gently stir in sparkling apple cider. Pour into glasses, and, if desired, garnish with Granny Smith apple slices.