In a large deep skillet or Dutch oven, heat olive oil over medium heat. Add the ground beef and cook until browned, breaking it apart as it cooks. Drain excess grease if necessary.
Add butter, garlic, Italian seasoning, red pepper flakes, paprika, salt, and pepper. Stir and cook for 1-2 minutes until garlic is fragrant.
Pour in the beef broth and uncooked pasta. Stir well, bring to a boil, then reduce heat to medium-low. Cover and simmer for 12–15 minutes, stirring occasionally, until pasta is cooked and liquid is mostly absorbed.
Stir in heavy cream, Parmesan cheese, and mozzarella. Mix until cheese is melted and sauce is creamy.
Let sit for 3–5 minutes off heat to thicken slightly. Sprinkle with parsley before serving.