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Preheat oven to 400 degrees F. Lightly spray a 2-quart casserole dish with olive oil and set it aside.
Heat a large nonstick skillet over medium-high heat. Lightly spray it with olive oil.
Add the ground beef to the skillet. Cook, stirring and breaking up the meat into small pieces, until the meat is no longer raw, about 5 minutes. Drain the beef and return it to the skillet.
Reduce the heat to medium. Mix the salt, pepper, garlic powder, onion powder and cayenne into the beef, then slowly and patiently mix in the cream cheese until fully melted and incorporated.
Turn the heat off, and mix 1/2 cup of the shredded cheddar into the beef mixture.
Transfer the mixture to the prepared 2-quart casserole dish. Sprinkle the remaining 1/2 cup cheddar on top.
Bake the ground beef casserole until the cheese is melted, about 10 minutes. Garnish with parsley and serve.