Mix honey, ground mustard seeds, red wine vinegar, olive oil, thyme, salt, and pepper in a bowl to create a marinade.
Rub the marinade generously over the venison rack. Cover and refrigerate for at least 2 hours or overnight.
Preheat the oven to 400°F (200°C). Heat a skillet over medium-high heat and sear the venison rack for 2 minutes per side.
Transfer the venison to a baking dish and roast for 15–20 minutes, or until the internal temperature reaches 135°F for medium-rare.
Let the venison rest for 5–10 minutes before slicing.