Add the cream cheese, mayonnaise, paprika, garlic powder, onion powder, cayenne pepper, and cheddar cheese to a food processor and pulse to combine.
6 ounces cream cheese, ¼ cup mayonnaise, ½ teaspoon paprika, ½ teaspoon garlic powder, ¼ teaspoon onion powder, ¼ teaspoon cayenne pepper, 1½ cups cheddar cheese