Whisk the warm milk, yeast, and sugar together in a stand mixer bowl. Cover and let sit for 5 minutes until frothy.
Add eggs, melted butter, vanilla, nutmeg, salt, and 2 cups of flour. Mix on low speed, then add remaining flour and mix until dough pulls away from the sides of the bowl.
Knead with the mixer or by hand on a floured surface for 5-7 minutes until smooth.
Place dough in a greased bowl, cover, and let rise in a warm place for 1 1/2 to 2 hours until doubled in size.
Punch down the dough, roll out to 1/2 inch thick, and cut with a donut cutter. Let cut donuts rise slightly, then fry in 375°F oil until golden.
To make the glaze, melt butter with maple syrup, then turn off the heat and whisk in confectioners’ sugar. Dip warm donuts in glaze and top with bacon bits.