Cook the pasta according to package directions until al dente. Drain and rinse thoroughly under cold water to stop the cooking process. Allow the pasta to cool completely before assembling the salad.
If using fresh corn, grill or roast the corn until lightly charred. Carefully cut the kernels from the cob. If using frozen corn, thaw it completely and sauté it in a skillet for a few minutes until lightly golden. This helps create the signature roasted flavor found in traditional Mexican street corn.
While the pasta cools, dice the red bell pepper, red onion, and jalapeño. Chop the cilantro and crumble the Cotija cheese.
In a medium bowl, whisk together the mayonnaise, sour cream, lime juice, chili powder, smoked paprika, garlic powder, salt, and black pepper until smooth and creamy.
In a large mixing bowl, combine the cooled pasta, corn, bell pepper, red onion, jalapeño, cilantro, and Cotija cheese. Gently toss until evenly distributed.
Pour the dressing over the pasta mixture and stir until every piece of pasta and vegetable is coated in the creamy dressing.
Cover the bowl and refrigerate for at least 30 minutes. Chilling allows the flavors to blend together and makes the salad even more delicious.
Before serving, give the salad a final toss and garnish with extra Cotija cheese, cilantro, chili powder, and fresh lime wedges if desired.