Acquire a 4- or 5-quart slow cooker. Ensure it is thoroughly cleaned and devoid of any moisture.
Combine frozen corn kernels, softened cream cheese, cubed unsalted butter, water, 2% milk, granulated sugar, and finely divided American cheese in the aforementioned slow cooker.
Cover the slow cooker securely with its lid.
Set the slow cooker to a low heat setting.
Allow the ingredients to cook undisturbed for approximately 3-4 hours, ensuring even heat distribution and consistent cooking.
Periodically, gently mix the ingredients to ensure homogeneity in texture and flavor.
Once thoroughly heated and the cheese is fully melted, the dish is ready to be served.