In same pot on medium, heat sundried tomato oil. Add shallot for a few mins. Then, add garlic; season with 1/2 tsp. salt. Add tomato paste and cook, stirring, 1-2 mins.
Add sundried tomatoes and cook, stirring, until fragrant, about 2 minutes.
Stir in broth and Parmesan rind. Bring to a simmer over medium-high heat and cook. Reduce to simmer 10 mins.
Remove Parmesan rind.
Add meatballs; return to a simmer and cook, stirring occasionally.
Stir in cream and grated Parmesan; season with pepper, then taste and season with more salt, if needed. If using 1 tsp. salt in meatballs you probably won't need more salt.