Preheat the oven to 375°F (190°C).

In a mixing bowl, combine the softened cream cheese, mozzarella cheese, and Parmesan cheese until well blended.

Stir in the pizza sauce, chopped bell pepper, sliced olives, Italian seasoning, and garlic powder.

Transfer the mixture to a baking dish, spreading it evenly.

Bake in the preheated oven for 20-25 minutes or until the cheeses are melted and the top is bubbly.

Remove from the oven and let it cool slightly before serving.