Whisk together the ketchup, honey, apple cider vinegar, brown sugar, molasses, Worcestershire sauce, smoked paprika, garlic powder, onion powder, dry mustard, black pepper, cayenne pepper, and kosher salt in a medium saucepan.
Set over medium heat and bring just to a simmer, stirring often to prevent scorching, 4–6 minutes.
Reduce heat to low and simmer gently, stirring occasionally, until glossy, thickened, and able to coat the back of a spoon, 10–15 minutes.
Remove from heat and let cool 5–10 minutes; the sauce will thicken further as it cools.
Toss with hot, cooked wings to coat, or cool completely and refrigerate in an airtight container for up to 2 weeks.