Cook the ramen noodles: Bring a pot of water to a boil and cook the ramen noodles according to the package instructions (usually 3-4 minutes). Once cooked, drain the noodles and set aside.
- Prepare the corn: In a skillet, heat olive oil over medium heat. Add the corn and cook for 5-7 minutes, stirring occasionally, until the corn is charred and lightly browned. Remove from heat and set aside.
- Make the creamy sauce: In the same skillet, melt the butter over medium heat. Stir in the smoked paprika, chili powder, and garlic powder, cooking for about 30 seconds until fragrant. Add the heavy cream, mayonnaise, and lime juice to the skillet, stirring to combine. Let the sauce simmer for 2-3 minutes, until slightly thickened.
- Combine the noodles and sauce: Add the cooked ramen noodles to the skillet with the sauce, tossing to coat the noodles evenly with the creamy mixture.
- Add the corn: Stir in the charred corn, Cotija cheese, and fresh cilantro (if using). Taste the dish and adjust the seasoning with salt and pepper.
- Serve: Divide the Elote Ramen into bowls, garnishing with additional Cotija cheese, cilantro, and lime wedges. Serve immediately.