Heat olive oil and butter in a large skillet over medium-high heat. Add the cooked shrimp and sauté for 2–3 minutes. You want them warm and slightly seared. Cool the shrimp slightly, then chop them into small, bite-sized pieces.
In a large mixing bowl, combine the softened cream cheese, mayonnaise, sour cream, Parmesan, and cheddar cheeses. Stir until you have a smooth, creamy mixture.
Now, stir in the minced garlic, chopped green onions, parsley, Cajun seasoning, hot sauce, smoked paprika, salt, and pepper. Adjust the seasoning to your spice preference. This is where the flavors really come alive!
Gently fold the chopped shrimp into the creamy mixture, making sure those pieces of seafood goodness are distributed evenly.
Spoon the mixture into your serving dish, cover it, and refrigerate for at least 1–2 hours. The chilling process allows the flavors to meld together beautifully. Before serving, garnish with fresh parsley and sliced green onions for a nice pop of color and freshness.