Preheat your oven to 350°F (175°C).
In a mixing bowl, combine the room temperature cream cheese, half of the mozzarella cheese, and half of the Parmesan cheese. Mix until well combined and smooth.
Fold in the pizza sauce into the cream cheese mixture until evenly distributed.
Add the sliced pepperoni, chopped green pepper, and sliced black olives to the mixture. Stir until well combined.
Pour the mixture into your prepared baking dish, spreading it evenly.
Sprinkle the remaining mozzarella and Parmesan cheese over the top.
Place the baking dish in the preheated oven and bake for about 20-25 minutes, or until the cheese is melted and bubbly.
Let it cool for a few minutes before serving. Pair with tortilla chips, breadsticks, or fresh vegetables for dipping.
