Cook the turkey bacon in a skillet until crisp. Transfer it to a paper-towel-lined plate, cool completely, and chop finely.
Mix the softened cream cheese, green onions, garlic powder, and black pepper in a small bowl.
Place the thawed puff pastry on a lightly floured surface. Gently roll it into an even rectangle.
Spread the cream cheese mixture evenly over the pastry, leaving a small border around the edges.
Sprinkle the shredded cheddar and chopped turkey bacon evenly over the cream cheese.
Starting from a long edge, roll the pastry tightly into a log.
Wrap the log and refrigerate for at least 30 minutes.
Preheat the oven to 400°F. Line a large baking sheet with parchment paper.
Cut the chilled pastry log into approximately 18 slices, each about ½ inch thick.
Arrange the pinwheels flat on the prepared baking sheet, leaving space between them.
Whisk the egg with 1 tablespoon water. Brush the exposed pastry lightly with the egg wash.
Bake for 17 to 21 minutes, or until puffed and golden brown.
Cool on the baking sheet for five minutes before serving.