Combine beef, water and garlic in stockpot; bring to a boil. Reduce heat; cover tightly and simmer 1-3/4 hours.
Stir in contents of risotto mix package omitting butter or oil; continue simmering, covered, 18 to 20 minutes or until rice is tender and beef is fork-tender. Stir in peas; remove from heat. Let stand 5 minutes.
Stir in cheese. Serve with additional cheese, if desired.