1. In a medium saucepan, combine the rice, beef broth, butter, salt, garlic powder, and smoked paprika. Bring the mixture to a boil, then reduce the heat to low, cover, and simmer for 15 minutes or until the rice is tender and the liquid is absorbed. Fluff the rice with a fork and set it aside.

2. In a large skillet, heat the olive oil over medium-high heat. Season the steak strips with salt, pepper, garlic powder, paprika, and cumin. Add the seasoned steak to the hot skillet and cook for 4-6 minutes, or until the steak is seared and cooked to your desired doneness. Remove the steak from the heat.

3. In a small saucepan over medium heat, combine the heavy cream and cream cheese. Stir until the mixture is smooth. Add the shredded cheddar and Monterey Jack cheeses, garlic powder, and cayenne pepper (if using). Stir continuously until the cheese has melted and the sauce is creamy.

4. Spoon the cooked rice into serving bowls, then top with the seared steak strips. Drizzle the warm queso sauce generously over the top. For an extra burst of flavor, garnish with chopped cilantro, sliced jalapeños, diced tomatoes, and a dollop of sour cream.