Heat the olive oil in a large pot over medium-high heat. Season the short ribs with salt and pepper, then sear them in the pot until browned on all sides, about 8-10 minutes. Remove the short ribs and set aside.
In the same pot, add the diced onion and cook until softened, about 5 minutes. Stir in the minced garlic and cook for an additional minute.
Pour in the beef broth and water, scraping the bottom of the pot to release any browned bits.
Return the short ribs to the pot, then add the sliced carrots, diced celery, thyme, and rosemary. Bring to a boil, then reduce heat to low and simmer for 2-3 hours, until the meat is tender and falling off the bone.
Once the short ribs are cooked, remove them from the pot and shred the meat, discarding the bones. Return the shredded meat to the pot and stir in the frozen peas.
In a separate bowl, combine the cornmeal, flour, baking powder, and salt. In another bowl, whisk together the milk, egg, and melted butter. Pour the wet ingredients into the dry ingredients and mix until just combined.
Drop spoonfuls of the dumpling batter into the simmering soup. Cover the pot and cook for 15-20 minutes, or until the dumplings are cooked through and fluffy.
Serve hot, garnished with fresh herbs if desired.