Heat a large saucepan over medium-high heat. Add bacon and cook until crisp, 6 to 8 minutes. Remove bacon using a slotted spoon and transfer to a small bowl.
Add mushrooms, onion, and garlic to the bacon fat. Saute until softened and lightly browned, about 5 minutes. Add cauliflower rice and chicken stock and mix well. Let simmer until cauliflower rice has absorbed most of the stock, about 5 minutes.
Stir in Parmesan cheese and heavy cream; mix well. Pulse a few times using an immersion blender to break down any large pieces. Cook until heated through, about 5 minutes. Stir in about 3/4 of the cooked bacon. Transfer risotto to a serving bowl and top with the remaining bacon.