Grease the bundt pan with the softened butter and set aside.
Combine the milk, water, sugar, yeast, and melted butter in a measuring cup and set aside
In the bowl of the stand mixer, mix the flour and salt using the dough hook. On low speed, slowly add the milk mixture and mix until dough comes together. Scrape down sides and bottom of bowl several times during mixing. If dough is especially wet, add up to 16 grams (2 tbsp) of flour.
Increase speed to medium and knead dough until shiny and smooth, 6 to 7 minutes.
Turn the dough out onto a lightly floured surface and shape into a ball.
Place dough into a bowl greased with vegetable oil and coat dough with oil as well. Cover bowl with cling film and place in a warm area to proof until doubled in size, around 1 hour.