Bring a large pot of water to a boil over high heat. Cook the macaroni pasta from the dinner package in the boiling water, stirring occasionally, for 7 to 8 minutes, or until tender. Drain the pasta without rinsing, and return it to the pot.

Stir in the cheese sauce from the dinner package, milk, and margarine into the pasta. Mix in the shredded Cheddar cheese until well combined and the cheese melts. Transfer the macaroni and cheese to a bowl and refrigerate until firm, about 2 hours to overnight.

Scoop the chilled macaroni and cheese into 1 1/2-inch balls and place them on a parchment paper-lined baking sheet. Freeze the balls for 1 hour.

Preheat the air fryer to 350°F (175°C) according to the manufacturer's instructions and spray the basket with nonstick cooking spray.

Place the beaten eggs in a bowl. In a shallow bowl, mix together the panko, bread crumbs, salt, and garlic powder.

Dip each frozen macaroni and cheese ball into the beaten eggs, then roll it in the bread crumb mixture to coat. Place the coated balls into the prepared air fryer basket in a single layer, leaving space between them; cook in batches if needed.

Cook in the preheated air fryer for 6 to 8 minutes. Turn the balls over and cook until golden brown, 3 to 4 more minutes.