Gather all ingredients and equipment.

In a small saucepan over low heat, combine 1 cup mayonnaise and 2 tablespoons Dijon mustard.

Add 2 tablespoons apple cider vinegar to the saucepan and stir to combine.

Sprinkle in 1 tablespoon smoked paprika, 1 teaspoon garlic powder, and 1 teaspoon onion powder.

Whisk the mixture continuously for about 5 minutes until smooth and heated through, without boiling.

Season with salt and freshly ground black pepper to taste, and stir in 1 teaspoon honey if desired for sweetness.

Serve the sauce immediately or transfer to a bowl and chill in the refrigerator for at least 30 minutes to enhance the flavors.

Store any leftovers in an airtight container in the refrigerator for up to one week.