Preheat oven to 375°F. Lightly grease a 9x5-inch loaf pan.
Heat olive oil in a large skillet over medium heat. Add onions and salt. Cook, stirring often, until deeply browned and caramelized, 25–30 minutes.
Remove skillet from heat. Stir in Worcestershire sauce and let cool for 5 minutes.
In a large bowl, whisk together milk, eggs, breadcrumbs, mustard, and pepper. Let sit for 5 minutes.
Add ground beef, 1 cup of the shredded cheese, and caramelized onions to the bowl. Mix until just combined — do not overmix.
Transfer the meat mixture into the loaf pan and press down gently to shape.
Bake for 40 minutes. Sprinkle the remaining 1/2 cup cheese on top and return to oven for 15–20 more minutes, until cheese is melted and internal temperature reaches 160°F.
Let rest for 10 minutes before slicing. Garnish with parsley if desired.