Melt butter in large skillet over medium-high heat. Add onion and sauté until translucent, about 5 minutes. Add bell pepper; sauté until beginning to soften, about 3 minutes. Add corn; sauté 2 minutes. Add cream, thyme, and 1/2 teaspoon hot pepper sauce. Simmer until sauce thickens, about 5 minutes. Mix in green onion, parsley, and basil. Season to taste with coarse salt, pepper, and more hot pepper sauce, if desired.