Preheat oven to 375°F (190°C).
In a large (10-inch) oven-safe skillet over medium-high heat, melt butter.
Add the corn and cook, stirring occasionally, until the kernels are lightly charred and golden.
Remove the skillet from heat. Add the Monterey Jack cheese, Velveeta Queso Blanco, drained Rotel, diced jalapeño, paprika, chili powder, and lime juice.
Pour in heavy cream and gently stir until everything is evenly combined.
Transfer the skillet to the oven and bake, uncovered, for 25–30 minutes, or until the cheese is fully melted and bubbling around the edges. Stir gently halfway through baking to help everything melt evenly.
Carefully remove the skillet from the oven. Stir to combine.
Top the queso with crumbled queso fresco, a light dusting of chili powder, and chopped cilantro.
Let the queso sit for 5 minutes to thicken slightly before serving.
Serve warm, straight from the skillet, with tortilla chips for dipping.