Preheat your oven to 350°F (175°C).

Combine the softened cream cheese and sour cream in a large mixing bowl and blend until smooth.

Stir in the sharp cheddar cheese, crispy bacon, sweet corn, and green chilies along with smoked paprika and cayenne pepper.

Fold in diced red bell pepper and finely chopped green onions, and season with salt and black pepper.

Transfer the mixture into a 1-quart baking dish and smooth it out evenly.

Bake for 20-25 minutes until edges are golden and the center is hot and bubbly.

Let it cool for about 5 minutes before serving with tortilla chips, crusty bread, or vegetable sticks.