Preheat oven to 350°F. Line 24 muffin tins with cupcake liners and set aside.
In the bowl of your mixer, beat cake mix, pumpkin, eggs, water, sour cream, and cinnamon on low speed for 30 seconds.
Increase speed to medium and beat for 2 minutes. Fill each tin 2/3 full with batter and bake for 15-20 minutes or until tops spring back when lightly touched in the center.
Remove from oven and let cool completely on wire racks.
In the bowl of your mixer, beat butter, cream cheese, and vanilla on medium speed until smooth.
With the mixer on LOW speed, slowly add powdered sugar, beating until just barely mixed in.
Once combined, increase speed to high and beat for one minute.
If frosting is too thick, add milk, one tablespoon at a time until spreadable consistency is reached.
Generously frost cupcakes then dust lightly with cinnamon.