Cook the pasta in salted water until al dente, then drain and set aside.
Add the chopped bacon to a large skillet and cook until crispy. Remove and set aside, reserving some bacon grease in the pan.
In the same skillet, cook the ground beef with onion until browned. Add garlic, salt, black pepper, onion powder, and smoked paprika. Stir and cook until fragrant.
In a saucepan, melt butter, then whisk in heavy cream and whole milk. Stir in Parmesan cheese and half the cheddar cheese until melted and smooth.
Add the cooked pasta to the beef skillet, pour in the Alfredo sauce, and mix. Stir in crispy bacon pieces.
Top with remaining cheddar cheese, cover for a few minutes until melted, then serve warm.