Bring a large pot of salted water to a boil. Add the pasta and cook until just al dente, about 1 minute less than package instructions. Drain and set aside.
In a saucepan, melt the butter over medium heat until it begins to foam gently. Add the flour and whisk constantly for about 1 minute until it smells slightly nutty and forms a smooth paste.
Slowly pour in the milk, whisking constantly to prevent lumps. Continue to cook, stirring frequently, until the mixture thickens slightly and becomes steaming, about 3-4 minutes.
Lower the heat to medium-low, then add the grated cheddar cheese, stirring until melted and smooth. Mix in smoked paprika and a dash of hot sauce, tasting and adjusting the heat level as desired. Keep whisking until the sauce is velvety and fragrant.
Fold the cooked pasta into the cheese sauce, ensuring each piece is coated generously. The sauce should be creamy and cling to the pasta, with a smoky, spicy aroma filling the air.
Preheat your oven to 200°C (392°F). Transfer the cheesy pasta into a buttered baking dish, spreading evenly.
In a small skillet or microwave, toast the panko breadcrumbs with olive oil or butter until golden and crispy, about 3-4 minutes. Sprinkle the toasted crumbs evenly over the top of the pasta.
Bake the mac and cheese in the preheated oven for 15-20 minutes, until bubbling around the edges and topped with a crispy golden crust. For extra crispness, broil for 2 minutes, watching carefully to prevent burning.
Remove from oven and let sit for 5 minutes to settle. Serve hot, with an extra splash of hot sauce or herbs if desired. The cheese should be gooey, the topping crispy, and the smoky heat unmistakably bold.
