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In a small bowl, combine butter, garlic, parsley, thyme and rosemary.
Cut slits in the prime rib every 2" inches and fill each slit with the butter herb mixture.
Season the exterior of the roast liberally with black pepper and kosher salt. Let sit at room temperature for 30 minutes prior to cooking.
When ready to cook, start the Traeger grill on Smoke with the lid open until the fire is established (4 to 5 minutes). Set the temperature to 450 degrees F (High) and preheat, lid closed, for 10 to 15 minutes.
Place the roast with the ribs facing the back of the grill directly on the grill grate. Close the lid and cook for 45 minutes or until the exterior of the roast has an even layer of browning.
Reduce the temperature to 325 degrees F and continue to cook for 2 1/2 hours or until the internal temperature has reached 125 degrees F.
Remove roast from grill and allow to rest 15 minutes before slicing.
After roast has rested, remove trussing and bones and slice into 1" inch sections. Enjoy!
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