Preheat oven to 400° F.
Place cubed butternut squash on a baking sheet. Drizzle with olive oil until well coated, but not drowning.
Season butternut squash with salt and pepper to taste.
Roast butternut squash for 40-50 minutes until fork-tender. About 20 minutes through, stir squash and turn the pan 180°. Then return to oven for the remaining time. When finished, remove from oven and let rest on baking sheet (mine took 45 minutes).
After you've stirred the squash and turned the pan, start preparing the risotto while the squash continues to cook. First, warm the vegetable broth in a pot over medium heat.
Next, in a wide pan, heat butter and olive oil over medium heat in a wide pan until butter is melted.
Add the shallot and cook on medium until it becomes translucent, about 2 minutes, stirring occasionally.
Add the Arborio rice and stir until it is well coated.
Add the wine and stir constantly until it is absorbed.
Once wine is absorbed, add one ladleful (approximately ¼ cup) of broth. Stir constantly until broth is absorbed.
Continue to add one ladleful of broth at a time to the rice as it is absorbed, stirring constantly. Repeat this process until rice is tender and has a creamy consistency (will take about 20-25 minutes from this point and you may not need to use all 58 ounces of broth - mine was done using 56 ounces).
Turn off heat and stir in the cheese. Use a slotted spoon to add in the butternut squash to eliminate some of the oil. Stir to combine. You can smash the butternut squash with your spoon while stirring if you want smaller pieces.
Stir in additional kosher salt to taste if desired. Garnish with fresh basil and additional Parmesan cheese if desired. Serve immediately.