Preheat the oven to 350°F (175°C). In a mixing bowl, combine the softened cream cheese with garlic powder, oregano, parsley, and dried basil until smooth and evenly seasoned.
Spread the seasoned cream cheese evenly across the bottom of a 9-inch oven-safe skillet or shallow baking dish.
Sprinkle half of the mozzarella and half of the Parmesan over the cream cheese layer, creating an even layer of melted-cheese goodness.
Spoon the pizza sauce over the cheese and spread it gently to cover the surface. Sprinkle the remaining mozzarella and Parmesan evenly over the sauce.
Arrange the diced bell pepper, onion, pepperoni, and black olives over the cheese. Add crushed red pepper flakes if you want a little extra heat.
Bake for about 20 minutes, or until the cheese is completely melted, bubbling, and lightly golden around the edges.
Let the dip rest for 3 to 5 minutes before serving. Serve warm with crostini, breadsticks, toasted baguette slices, crackers, or fresh bell pepper strips.