In a medium saucepan, combine the ketchup, apple cider vinegar, Worcestershire sauce, soy sauce, and dark corn syrup. Stir well to blend all the liquids together.
Add the lemon juice, packed brown sugar, yellow mustard, smoked paprika, garlic powder, onion powder, ground black pepper, and salt. Mix until all the dry ingredients are fully incorporated.
For a spicier version, add the cayenne pepper and hot sauce. Adjust the amount based on your heat preference.
Pour in the water, stirring to ensure a smooth consistency.
Bring the mixture to a simmer over medium heat, stirring occasionally.
In a small bowl, dissolve the cornstarch in 2 tablespoons of cold water to create a slurry. Gradually add the cornstarch slurry to the sauce, stirring continuously until the sauce thickens to your desired consistency.
Reduce the heat to low and let the sauce simmer for an additional 5-10 minutes, stirring occasionally.
Remove the sauce from heat and allow it to cool slightly. Transfer it to a jar or bottle and store it in the refrigerator.