Heat the olive oil in a large skillet over medium-high heat.
Stir in the corn, cooking until lightly charred in spots, about 8–10 minutes.
Remove from the heat, set aside to cool slightly.
Stir the mayonnaise, sour cream, cotija cheese, chili powder, smoked paprika, garlic powder, salt, and lime juice together in a large mixing bowl until smooth
Fold in the cooled corn, red onion, cilantro, and jalapeño if using.
Transfer to a serving bowl and top with extra cotija, a sprinkle of chili powder, and additional cilantro if desired.