Begin by bringing a large pot of salted water to a boil. Add the spaghetti and cook according to package instructions until al dente, usually around 8-10 minutes. Once cooked, drain the pasta in a colander and set aside.

In a large skillet, heat 1 tablespoon of olive oil over medium heat. Add ½ cup of chopped onion and ½ cup of chopped bell pepper, cooking for about 5-7 minutes until they become soft and fragrant.

Pour in 1 can of cream of chicken soup, followed by 1 cup of sour cream, ½ teaspoon of garlic powder, ½ teaspoon of onion powder, and ½ cup of milk. Stir all ingredients together, cooking for 2-3 minutes until creamy and smooth.

Once the sauce is smooth, fold in 2 cups of shredded, cooked chicken and ½ cup of shredded Monterey Jack cheese. Stir until the cheese has melted and everything is combined.

Toss the drained spaghetti into the skillet, mixing gently with the creamy chicken and vegetable sauce. Keep stirring for about 2 minutes until every noodle is well-coated.

For a baked version, transfer the mixture to a greased 9x13-inch baking dish. Top with ½ cup of Monterey Jack cheese and ½ cup of shredded cheddar cheese. Bake at 350°F for 20-25 minutes until bubbling and golden.

Remove from the oven and allow it to cool for a couple of minutes. Garnish with freshly chopped parsley and serve warm.