01 - Preheat oven to 400°F. Line a rimmed baking sheet with parchment paper and set aside.
02 - Using a sharp knife, carefully halve the spaghetti squash lengthwise. Scoop out and discard the seeds and stringy membrane. Lightly brush the cut sides with olive oil if desired.
03 - Place the squash halves cut-side down on the prepared baking sheet. Roast for 35–40 minutes until the flesh is fork-tender and the strands release easily when scraped with a fork.
04 - While the squash roasts, melt the butter in a medium saucepan over medium heat. Whisk in the flour and cook, stirring constantly, for 1 minute to form a smooth roux.
05 - Slowly pour in the milk while whisking continuously to prevent lumps. Bring to a gentle simmer and cook, stirring constantly, until the sauce thickens, about 2–3 minutes.
06 - Remove the saucepan from heat. Stir in the cheddar, Parmesan, garlic powder, ground mustard, salt, and black pepper. Continue stirring until all the cheese has melted and the sauce is smooth and velvety.
07 - Use a fork to shred the roasted squash flesh into spaghetti-like strands. Transfer the strands to a large mixing bowl and gently toss with the cheese sauce until evenly coated.
08 - Transfer the coated squash mixture to a greased baking dish. In a small bowl, combine the panko breadcrumbs, Parmesan, and melted butter. Sprinkle the topping evenly over the squash. Broil on high for 2–3 minutes until the topping is golden brown and crispy.
09 - Serve warm, garnished with additional Parmesan or fresh herbs if desired.