Cut Chicken into bite-sized pieces and toss with Cajun seasoning.
Heat Olive oil in a large skillet over medium-high heat. Cook Chicken until browned and cooked through.
Meanwhile, cook Penne pasta according to package directions.
In a separate saucepan, melt Butter over medium heat. Whisk in All-purpose flour and cook for 1-2 minutes to create a roux.
Gradually whisk in Chicken broth until smooth. Bring to a simmer, then stir in Heavy cream, Parmesan cheese, Garlic powder, Paprika, Cayenne pepper, Salt, and Black pepper.
Add Bell pepper and Onion to the Sauce and cook until softened, about 5 minutes.
Add cooked Chicken and Penne pasta to the Sauce. Toss to coat.