01 - Prepare elbow macaroni in salted boiling water according to package directions until al dente. Drain thoroughly and set aside.
02 - Melt unsalted butter in a medium saucepan over medium heat. Whisk in all-purpose flour and cook, stirring, for 1 minute. Gradually add whole milk, whisking constantly, and cook until sauce is thickened, about 3 minutes.
03 - Remove sauce from heat. Stir in shredded cheddar cheese, grated Parmesan cheese, salt, and ground black pepper until smooth and combined.
04 - Fold the cooked macaroni into the cheese sauce, ensuring even distribution. Spread the mixture into a 1-inch thick layer on a parchment-lined baking sheet. Refrigerate until completely firm, at least 2 hours, or freeze for 30 minutes if needed.
05 - Once the mixture is chilled and firm, scoop and shape into 1 1/2-inch balls. Arrange on a tray.
06 - Prepare three bowls: add all-purpose flour to the first, beat eggs in the second, and combine panko breadcrumbs with garlic powder and paprika in the third.
07 - Dredge each mac and cheese ball in flour, dip into the beaten eggs, then roll in the panko mixture to coat thoroughly.
08 - Heat vegetable oil to 350°F in a deep pot or fryer to a depth of 2 inches. Fry the bites in batches for 2 to 3 minutes until golden brown and crisp, ensuring not to overcrowd the pot.
09 - Remove fried bites with a slotted spoon and drain on paper towels. Serve hot with a dipping sauce of your choice.