Finely dice the onion, carrots, and celery into pieces no larger than 1/4 inch (0.5 cm). Mince the garlic and set it aside separately; if using pancetta, finely dice it as well.
Place a Dutch oven over medium heat, add the diced pancetta, and cook for about 5 minutes until the fat renders and the pancetta turns golden. If skipping pancetta, proceed directly to the next step.
Add the olive oil and butter to the pot, then add the onion, carrot, and celery. Cook over medium-low heat for 8 to 10 minutes until the vegetables are very soft and the onion is translucent, then add the garlic and cook for 1 to 2 minutes until fragrant.
Increase heat to medium-high, add the ground beef and pork, and season with salt and pepper. Cook for 10 to 12 minutes, breaking the meat into very fine crumbles, until fully browned and all moisture has evaporated.
Increase heat to high, pour in the white wine, and scrape up any browned bits from the bottom of the pot. Cook for 2 to 3 minutes until the wine has almost completely evaporated and the alcohol smell is gone.
Reduce heat to medium, add the tomato paste and stir constantly for 2 to 3 minutes to toast it lightly, then pour in the crushed tomatoes, broth, bay leaf, and nutmeg and stir to combine.
Bring the sauce to a gentle boil, then reduce heat to the lowest setting, partially cover, and simmer for 2.5 to 3 hours, stirring every 20 to 30 minutes, until the sauce is thick, rich, and deeply flavored.
Remove the bay leaf, stir in the whole milk, and simmer for another 5 to 10 minutes over low heat. Taste and adjust salt and pepper as needed.
Boil the pappardelle in generously salted water until al dente, reserve 1 cup (240 ml) of pasta water, drain, and toss with several ladles of Bolognese, adding pasta water as needed to loosen the sauce. Serve immediately with freshly grated Parmesan.