In a large skillet over medium heat, melt the butter and add the sliced sweet onions, salt, pepper, and brown sugar. Cook for 25–30 minutes, stirring often, until the onions are soft and golden. Transfer the caramelized onions to the bottom of the slow cooker. Pour the red wine and Worcestershire sauce over onions to create a flavorful base.
In a large mixing bowl, combine the ground beef, breadcrumbs, Italian seasoning, milk, an egg, and French onion soup mix. Mix thoroughly with your hands or a spoon until fully combined.
Shape the meat mixture into an oval loaf that will fit inside the slow cooker. Make sure the loaf is compact but not too tightly packed, as this may make the meatloaf dense.
Gently place the formed meatloaf on top of the onion mixture.
Cover the slow cooker with the lid and set it to high. Cook the meatloaf for approximately 5 hours.
After 5 hours, carefully open the slow cooker lid and lay 6-8 slices of Swiss cheese across the top of the meatloaf, overlapping slightly if needed. Cover the slow cooker again and continue cooking for 10 minutes or until the cheese is melted.
Garnish the finished meatloaf with a few sprigs of fresh thyme. Allow the meatloaf to rest for 5 minutes before slicing to ensure it holds together when cut.
Slice the meatloaf and serve with the caramelized onions and sauce. The meatloaf can be served straight out of the slow cooker or transfered to a platter.