• Preheat your oven to 350°F (175°C). Lightly grease a 9x13-inch baking dish.
• Cook the macaroni according to package instructions until al dente. Drain and set aside.

Prepare Cheese Sauce:

• In a large saucepan, melt 1/2 stick (4 tablespoons) of butter over medium heat. Once melted, whisk in the flour and cook for 1-2 minutes until bubbly and lightly golden.
• Gradually whisk in the milk and whipping cream, ensuring there are no lumps. Continue to cook, stirring constantly, until the mixture thickens, about 5-7 minutes.
• Stir in the smoked paprika, salt, and pepper.
• Remove the saucepan from heat and stir in the shredded sharp cheddar and Gruyère cheeses until fully melted and smooth.
• Taste and adjust seasoning with salt and pepper as needed.

Combine and Transfer

• Add the cooked macaroni to the cheese sauce and stir until well combined.
• Pour the macaroni and cheese mixture into the prepared baking dish.

Prepare Topping

• In a small saucepan, melt the remaining 1/2 stick (4 tablespoons) of butter. Once melted, mix in the panko breadcrumbs until they are well coated.
• In a small bowl, combine the buttered panko breadcrumbs and grated Parmesan cheese.
• Sprinkle the breadcrumb mixture evenly over the macaroni and cheese.

Bake and Serve

• Bake in the preheated oven for 20-25 minutes, or until the top is golden brown and the sauce is bubbling around the edges.
• Remove from the oven and let it sit for a few minutes before serving.