Let $f:K\times[0,1]\to \mathrm{Cone}(K)$ be defined by $f(k,t)=(1-t)k+tv$.
Then, $f$ restricted to $K\times\{1\}$ is constant so $f$ yields a continuous map $$(K\times[0,1])/K\times\{1\}\to \mathrm{Cone}(K)$$
It is clearly a bijection, so if $K$ is compact, then it is automatically a homeomorphism, which is the case for your example.
The problem with $K$ not compact is that $\mathrm{Cone}(K)$ has bad properties.
Take $K:=\mathbb R\times\{0\}\subset\mathbb R^2$, then $$\mathrm{Cone}(K)=\mathbb R\times[0,1)\cup\{v\}\subset \mathbb R^2$$
Look at the neighborhoods or $v$ : they do all contain a subset of the form $D(N,\varepsilon)\cap\mathrm{Cone}(K)$ by definition of the subspace topology.
Look at the inverse image of some $D(N,\varepsilon)\cap\mathrm{Cone}(K)$ by $f$ : it is an open neighborhood of $\mathbb R\times\{1\}$ in $(\mathbb R\times[0,1])/(\mathbb R\times\{1\})$. So by definition of the quotient topology, it is the projection of an saturated open neighborhood $U$ of the subset $\mathbb R\times\{1\}$ in $\mathbb R\times[0,1]$.
For $k=(x,0)\in K$, $|v-f(k,t)|=(1-t)|v-k|=(1-t)\sqrt{1+x^2}$, so $$(x,t)\in U\iff |v-f(k,t)|<\varepsilon \iff t> 1-\frac{\varepsilon}{\sqrt{1+x^2}}$$
so that $U$ is the strict epigraph of the function $\mathbb R\to [0,1]$, $$x\mapsto 1-\frac{\varepsilon}{\sqrt{1+x^2}}$$
We have shown that if $V$ is an open neighborhood of $v$ in $\mathrm{Cone}(K)$, then its reverse image by $f$ contains the image in the quotient $(\mathbb R\times[0,1])/(\mathbb R\times\{1\})$ of the strict epigraph of a function $$x\mapsto 1-\frac{\varepsilon}{\sqrt{1+x^2}}$$ for some $\varepsilon$.
But for $g(x)=1-e^{-|x|}$, the image in $(\mathbb R\times[0,1])/(\mathbb R\times\{1\})$ of the strict epigraph of $g$ is an open set of the topological cone of $K$, which image by $f$ is not open is $\mathrm{Cone}(K)$ by what we have shown, and a classical argument of real analysis. The topology of the topological cone is then finer (has more open sets) than that of $\mathrm{Cone}(K)$.
So the answer is that in general, you can't identify those two spaces. But it works for the compact case.