In a large pot, heat olive oil over medium heat. Add diced onion and sauté until translucent, about 5 minutes.

Add minced garlic and cook for 1 minute until fragrant.

Stir in ground beef, breaking it apart. Cook until browned, about 6 to 8 minutes, then drain any excess fat.

Pour in beef broth and bring to a gentle boil, scraping any flavorful bits from the pot.

Once boiling, add elbow macaroni and reduce heat to a simmer. Cook for 8 to 10 minutes.

Stir in Worcestershire sauce, Dijon mustard, and smoked paprika. Simmer for another minute.

Lower heat, then add milk, shredded cheddar cheese, and Velveeta cheese. Stir until melted and smooth.

Season with salt and pepper to taste and stir to incorporate.

Ladle soup into bowls and invite everyone to customize their servings with optional toppings.