Melt butter in a large skillet over medium heat.
Whisk in flour and cook for about 1 minute.
Slowly whisk in the chicken broth until smooth.
Gradually add the heavy cream, whisking continuously.
Simmer for 3–5 minutes until thickened.
Add garlic powder, onion powder, paprika, mustard powder, salt, and pepper. Stir in cream cheese (if using), cheddar, and Parmesan until smooth and creamy.