Pat the roast dry with paper towels. Remove all visible fat and any silver skin. Cut into 1-inch pieces and season with salt and pepper. Heat 1 tablespoon vegetable oil in a large Dutch oven or heavy bottom soup pot until shimmering. Brown half the beef, about 10 minutes, and transfer to a bowl using a slotted spoon; cover to keep warm. Brown the remaining beef cubes and remove to the bowl along with any beef juices.
Add the remaining tablespoon of oil to the now empty Dutch oven. Add the onions, carrots, and celery and cook until vegetables are softened and the onions start to brown and caramelize, about 8 minutes. Add the garlic, thyme leaves, paprika and tomato paste to the vegetables. Sauté for about 30 second or until the garlic is fragrant. Stir in the wine and deglaze the bottom of the pot to remove any browned bits.
Add the cooked beef to the pot along with the beef broth. Add the bay leaf to the soup, cover and reduce the heat to medium/medium-low. Simmer the soup, stirring occasionally, until the beef and vegetables are tender, about 1 1/2 to 2 hours.
Mix the cornstarch and the water until dissolved. Slowly stir the slurry into the soup. Add the soy sauce, red pepper flakes and gnocchi. Cook for 3-5 minutes or until the gnocchi is cooked through (check package directions for cooking time). The gnocchi will float to the top once cooked. Remove the bay leaf, stir in the peas and parsley and check the seasoning. Serve with crusty bread for sopping up the broth.