Preheat the oven to 350°F (180°C) conventional (see note 2 if using a convection oven with a fan). Generously grease a 12-cup bundt pan with homemade cake release or baking spray containing flour, making sure to coat all the grooves and corners well. Set aside. In a medium bowl, sift the flour, cornstarch, baking powder, baking soda, salt, cinnamon, ginger, nutmeg, allspice, and cloves. Using a whisk, mix until evenly combined, then set aside.
In a large bowl, whisk together the white sugar, brown sugar, eggs, oil, pumpkin puree, milk, and vanilla until smooth and well combined.
Add the dry ingredients to the wet ingredients and gently fold together with a spatula until just combined and no streaks of flour remain. Be careful not to overmix.
Pour the batter into the prepared bundt pan and smooth the top. Gently shake the pan to help the batter settle into the grooves, then lightly tap it on the counter to remove any large air bubbles.
Bake for 50–60 minutes, or until a skewer inserted into the thickest part of the cake comes out clean or with a few moist crumbs attached.
Allow the cake to cool in the pan for 30 minutes before carefully turning it out onto a wire rack. If needed, gently loosen the edges with a thin spatula or knife. Let the cake cool completely before glazing.
To make the cream cheese glaze, add the powdered sugar, melted butter, room-temperature cream cheese, vanilla, and cinnamon to a medium bowl. Using a hand mixer or stand mixer on low speed, mix until smooth and well combined. The glaze should be fairly thick so it sits nicely on top of the cake and slowly drips down the sides.
Once the cake has cooled completely, use a serrated knife to trim the bottom if needed so the cake sits flat on a serving plate. Turn the cake right side up, pour the glaze evenly over the top, and allow it to drip naturally down the sides.
Sprinkle with roughly chopped walnuts or pecans for extra crunch, then slice and enjoy!