Bring a large pot of well-salted water to a boil. Cook the bowtie pasta 1 minute less than the package instructions for al dente. Drain, reserving ½ cup of the pasta water.

In a large deep skillet over medium-high heat, brown the ground beef and diced onion together, breaking the beef apart with a wooden spoon, about 6–8 minutes, until no pink remains. Add the garlic in the last minute. Drain excess grease if more than about 2 tablespoons has pooled in the pan.

Stir in the Worcestershire sauce, Italian seasoning, smoked paprika, salt, and pepper. Cook 30 seconds until fragrant.

Pour in the beef broth and milk, scraping up any browned bits from the bottom of the pan. Bring to a gentle simmer over medium heat, 2–3 minutes.

Reduce heat to low. Add the cubed Velveeta a handful at a time, stirring until fully melted before adding more, about 3–4 minutes total.

Add the drained pasta and toss until fully coated. If the sauce looks thick, splash in reserved pasta water, a tablespoon at a time, until loosened. Rest off heat for 2–3 minutes before serving. Garnish with parsley.