In a small bowl, stir together all dip ingredients until well-mixed. Refrigerate until ready to use.
Trim the asparagus spears by cutting off the tough woody ends so you’re left with about 6 inches. Rinse and dry them.
In a bowl, beat together the egg and heavy cream until well-mixed. Pour the mixture into a shallow plate, large enough for the asparagus spears. In another shallow plate, stir together all breading ingredients until well-mixed.
Using a deep fryer or a pan on the stovetop, add enough vegetable oil so that the asparagus can be fried on all sides. Heat the oil to 350 F. If not using a fryer, frequently monitor to maintain the temperature during frying. Generously coat each asparagus spear in the egg wash with your first hand, then in the breading with your second hand until well-coated on all sides. Gently shake off excess and transfer to wax or parchment paper. Repeat with the other asparagus spears.
Fry the breaded asparagus until golden brown, 3 to 5 minutes, and drain on paper towels. You may need to work in batches to avoid overcrowding. After frying, handle the asparagus carefully so you don’t break off the breading.
Serve while hot with the dip.