Preheat the oven to 375 degrees. Spray a medium or large Bundt pan with cooking spray and set aside.
In a standing mixer, beat the butter and sugar together until light and fluffy. Add in 2 eggs, and beat until combined, add in the last 2 eggs and beat until combined. Add in the flour, baking soda, and salt. Beat until well combined.
Fold in the slightly defrosted cranberries.
Pour half of the batter into the prepared Bundt pan. Pour the caramel into the center of the bundt and smooth the rest of the batter on top.
Bake in the preheated oven for 50-55 minutes, or until the center of the Bundt is set and the Bundt is a deep golden brown. Let the cake cool for at least 10 minutes before carefully turning out onto a cooling rack. Let the cake come to room temperature. Dust with powdered sugar.