In a large pot, heat the olive oil over medium heat. Add the diced butternut squash and cook for about 5-7 minutes until slightly softened.
Add the chopped onion and minced garlic to the pot, cooking until the onion is translucent, about 3-4 minutes.
Stir in the Arborio rice and cook for another 2 minutes, allowing the rice to toast slightly.
Gradually add the vegetable broth, one ladle at a time, stirring frequently. Allow the rice to absorb the broth before adding more, continuing until the rice is creamy and al dente, about 18-20 minutes.
Reduce the heat to low and stir in the Parmesan cheese and heavy cream. Mix until well combined and creamy.
Season with salt and pepper to taste. Remove from heat and let it sit for a couple of minutes.
Serve hot, garnished with fresh sage leaves.
Notes
For a vegan version, substitute Parmesan cheese with nutritional yeast and use coconut cream instead of heavy cream.