Heat oil in a large skillet over medium heat. Add bell pepper; cook, stirring occasionally, 5 minutes. Add garlic; cook 1 minute. Add tomatoes; bring to boil. Cook 5 to 6 minutes or until vegetables are crisp-tender. Add beans and pepper sauce; cook 4 minutes or until heated through.
Meanwhile, prepare rice according to package directions. Stir in 1 cup cheese; transfer to serving plates. Top with bean mixture and remaining cheese. Garnish with thyme, if desired.