In a large mixing bowl, whisk together the flour, instant yeast, sugar, and salt. Add the warm milk and melted butter, stirring until a shaggy dough forms. Turn out onto a lightly floured surface and knead for about 8 minutes until the dough is smooth, elastic, and springs back when poked. If the dough is too sticky, add flour 1 tablespoon at a time.

Place the dough in a lightly greased bowl, cover, and let rise for about 1 to 1.5 hours, until doubled in size.

In a small bowl, stir together the granulated sugar and ground cinnamon until evenly combined. Melt the butter in a separate bowl and set both aside.

Once the dough has risen, punch it down and form it into 1-inch balls. Dip each ball into the melted butter, then roll in the cinnamon-sugar mixture.

Arrange the coated dough balls in a well-greased 10-cup Bundt pan, staggering them so the second layer sits in the gaps of the first — this helps them bake together into an even pull-apart ring. Cover with plastic wrap and let rise for 20–30 minutes until the balls look puffy and have expanded to nearly fill the pan.

While the dough balls are on their second rise, preheat the oven to 350°F / 175°C (180°C fan-forced). Remove the plastic wrap and bake for 30–35 minutes until the top is deep golden brown and an instant-read thermometer inserted into the centre reads 190–200°F (88–93°C).

In a small bowl, whisk together the powdered sugar and milk until smooth and pourable. Add the milk 1 teaspoon at a time — you want it thick enough to cling but thin enough to drizzle.

Let the monkey bread cool in the pan for 5 minutes, then place a serving plate over the top and carefully invert. Lift the pan away, drizzle the glaze over the warm bread, and serve immediately — it's best enjoyed warm and fresh from the oven.