Preheat your oven to 400°F (200°C) to caramelize the vegetables.

Prepare the vegetables by cutting the red bell peppers in half and quartering the yellow onion. Toss in olive oil, salt, and black pepper, then place cut-side down on a baking sheet. Wrap garlic in foil.

Roast the vegetables for 30 to 40 minutes until soft and charred. The garlic should be fragrant after about 30 minutes.

Allow the roasted vegetables to cool, peel the blistered skins off the peppers, and squeeze the garlic from its skin.

In a saucepan, heat remaining olive oil over medium heat. Add smoked paprika and stir until fragrant, about 30 seconds.

Transfer roasted vegetables, garlic, onion, and about 2 cups of broth to a blender. Blend until smooth and creamy, about 1-2 minutes.

Pour blended mixture back into the saucepan. Add remaining broth and heat gently for about 5 minutes.

Gradually add shredded Gouda cheese, stirring continuously until melted, about 2-3 minutes.

Stir in the heavy cream and adjust seasoning with salt and black pepper if needed. Serve warm.