Heat oven to 400°F. Heat asparagus, ham, milk, soup and 3/4 cup of the cheese to boiling in 3-quart saucepan, stirring constantly. Boil and stir 1 minute. Spread in ungreased 2-quart casserole.
Stir Bisquick mix, milk and remaining 1/4 cup cheese in small bowl until blended. Pour evenly over ham mixture.
Bake uncovered about 30 minutes or until golden brown and toothpick inserted in biscuit layer comes out clean.