Using a sharp knife, lightly score outside of ham. (To score, make shallow diamond shaped cuts across the surface.) Rub olive oil and ground pepper over ham. Place ham on rack of a large roasting pan. Pour water and wine into bottom of pan; add thyme and bay leaves. Cover pan loosely with aluminum foil.
Bake for 1 hour. In a small bowl, stir together apricot preserves and remaining ingredients.
Uncover ham, and bake until a meat thermometer registers 160° and ham is caramelized, 1 to 2 hours more. Baste every 30 minutes with apricot mixture. (Tent ham with foil to prevent excessive browning.) Remove from oven; transfer to a serving platter. Let stand for 20 minutes before carving.
Recipe by Southern Lady Magazine at https://southernladymagazine.com/honey-apricot-glazed-ham-recipe/