Prepare the Steak:
In a small bowl, mix together the garlic powder, onion powder, cumin, paprika, salt, and pepper. Rub this seasoning mixture all over the steak. Heat olive oil in a large skillet or grill pan over medium-high heat. Cook the steak for 4-5 minutes per side for medium-rare, or longer for your desired doneness. Once cooked, remove from heat and let the steak rest for 5 minutes before slicing it thinly against the grain.

Cook the Rice:
In a medium saucepan, bring the chicken broth (or water) to a boil. Stir in the rice, cover, and reduce the heat to low. Let the rice cook for about 15-20 minutes, or until the liquid is absorbed and the rice is tender. Remove from heat and fluff with a fork.

Make the Queso Rice:
In a large skillet, melt the butter over medium heat. Add the diced onion and cook until softened, about 3-4 minutes. Add the minced garlic and cook for another 1 minute until fragrant. Stir in the cooked rice and chili powder (if using). Add the shredded cheese and heavy cream, stirring until the cheese has melted and the rice is creamy. Season with salt and pepper to taste.

Assemble the Dish:
Divide the creamy queso rice between plates. Top with the sliced steak and garnish with fresh cilantro. You can also drizzle some lime juice over the steak for extra flavor.