In a large, deep skillet or braiser pan with tight fitting lid, heat the olive oil and butter over medium heat. Add the ground turkey and cook, breaking it up with a spoon, until browned and cooked through. Season with garlic powder, onion powder, sazon, Italian seasoning, salt, and pepper.
Stir in the diced bell peppers and red onion, cooking until they soften slightly. Add the fire-roasted tomatoes and mix everything together, allowing the flavors to meld for a minute.
Pour in the Rice-A-Roni along with the cheese seasoning packets. Stir well to coat everything in the seasoning. Add the chicken broth and bring to a gentle simmer.
Cover and let the mixture cook over low heat until the rice is tender and fully absorbed, about 20-25 minutes. If needed, add the reserved ¼ cup of broth to keep the mixture moist.
Once the rice is fully cooked, turn off the heat and sprinkle in the Mexican cheese blend. Let the cheese melt into the mixture, then gently stir to combine.
Serve hot and enjoy this cheesy, comforting, one-pot meal with all the flavors of classic stuffed peppers—without the extra work!