Set your oven to 400°F and prepare a 2-quart casserole dish by giving it a light coating of olive oil spray.
Spray a large 12-inch nonstick skillet with olive oil and heat over medium-high heat.
Add the ground beef to the skillet and cook it, stirring and breaking apart the meat, until it loses its raw color, about 5 minutes. Drain any excess liquid and return the beef to the pan.
Lower the heat to medium and season the beef with salt, black pepper, garlic powder, onion powder, and cayenne pepper.
Slowly blend the cream cheese into the hot beef mixture until the cheese is fully melted and evenly distributed.
Turn off the heat and stir half of the shredded cheddar cheese into the beef mixture, saving the rest for topping.
Transfer the beef mixture into the prepared casserole dish, then sprinkle the remaining cheddar cheese evenly on top.
Bake in the oven for about 10 minutes, or until the cheese on top has melted completely.
Garnish with freshly chopped parsley before serving for a fresh touch.