Cook pasta in salted boiling water according to the package directions until al dente. Reserve 1/2 cup pasta water, drain, and set aside.
Brown the ground beef in a large skillet over medium-high heat for 6–8 minutes. Drain excess grease if needed.Beef
Add the diced onion and cook for 3–4 minutes until softened. Stir in the garlic, paprika, onion powder, garlic powder, salt, and pepper. Cook for 30 seconds.
Add the undrained Rotel tomatoes and simmer for 2–3 minutes.
Reduce the heat to low. Stir in the heavy cream, milk, and cubed Velveeta until the cheese melts.
Add the cheddar cheese, Italian seasoning, and optional chili powder. Stir until smooth.
Add the cooked pasta and toss until coated. Add reserved pasta water as needed to adjust the sauce.
Simmer gently for 1–2 minutes. Garnish with fresh parsley and serve hot.