Cook the Tortellini: Boil the tortellini in salted water according to package instructions (usually 3-4 minutes). Drain and set aside.
Prepare the Filling: Heat olive oil in a large skillet over medium-high heat. Add the thinly sliced steak, onions, and bell peppers. Season with salt and pepper. Sauté until the steak is browned and vegetables are tender, about 5-7 minutes. Remove from the skillet and set aside.
Make the Sauce: In the same skillet, reduce heat to medium. Add heavy cream, cream cheese, Worcestershire sauce, garlic powder, and onion powder. Stir until smooth and heated through. Add shredded provolone and cheddar, stirring until the sauce is creamy and the cheese has melted.
Combine: Add the cooked tortellini to the sauce and toss to coat. Add the steak and vegetable mixture back into the skillet and mix everything together.
Serve: Garnish with additional cheese if desired and serve hot.