Preheat the oven to 350°F. Lightly grease a large 3 qt or 4 qt baking dish and set it aside. In a large bowl, combine the shredded cheeses and set aside.

Cook the pasta one minute less than the recommended al dente time on the package. Once done, remove from heat, drain, and place the pasta in a large bowl. Drizzle the pasta with olive oil and stir to coat. Set it aside to cool while you prepare the cheese sauce.

Melt butter in a deep saucepan, Dutch oven, or stock pot over medium heat. Whisk in the flour and continue whisking for about 1 minute until the mixture becomes bubbly and golden.

Gradually whisk in the milk and heavy cream, ensuring the mixture stays smooth. Keep whisking until you see bubbles form on the surface, then cook and whisk for an additional 2 minutes. Season with salt and pepper.

Add two cups of the shredded cheese and whisk until smooth. Stir in another two cups of cheese and continue whisking until the sauce becomes creamy and thick.

Stir in the cooled pasta, ensuring the pasta is fully coated with the cheese sauce.

Transfer half of the mac and cheese into the prepared baking dish. Top with the remaining 2 cups of shredded cheese, then add the rest of the mac and cheese on top.

In a small bowl, mix the panko breadcrumbs, Parmesan cheese, melted butter, and paprika. Sprinkle this mixture over the mac and cheese and bake for about 30 minutes, or until the top is bubbly and golden brown. Serve immediately.