Cook the penne pasta according to package instructions until al dente. Drain and set aside.
In a large skillet, heat the olive oil over medium heat. Add the diced chicken and season with garlic powder, onion powder, paprika, salt, and black pepper. Cook until the chicken is browned and cooked through, about 6-8 minutes.
Stir in the buffalo sauce and heavy cream, bringing the mixture to a simmer. Cook for an additional 2-3 minutes, allowing the sauce to thicken slightly.
Add the cooked penne pasta to the skillet and toss to coat the pasta evenly with the sauce.
Remove from heat and stir in the shredded cheddar cheese until melted and well combined.
Serve hot, topped with crumbled blue cheese and chopped green onions.