Prep all ingredients: peel and dice potatoes, dice onion and peppers, mince garlic, slice sausage and bacon, and measure spices into a small bowl.
Cook bacon in a dry 12-inch cast iron skillet over medium heat for 5-6 minutes until crispy. Transfer to a paper towel-lined plate, leaving rendered fat in the skillet.
Brown sausage in the bacon drippings over medium heat for 5-6 minutes until fully cooked. Remove with a slotted spoon to the plate with bacon.
Add dried diced potatoes to the skillet and cook undisturbed for 3-4 minutes to develop a crust. Continue cooking, stirring occasionally, for 12-15 minutes until golden and fork-tender.
Add garlic powder, onion powder, smoked paprika, salt, and pepper to the potatoes and cook 1 minute more to toast the spices.
Push potatoes to the edges, add onion and peppers to the center, and cook 4-5 minutes until softened. Add garlic and cook 30-60 seconds until fragrant.
Return bacon and sausage to the skillet and stir to combine. Create 4 wells and crack an egg into each. Season eggs with salt and pepper.
Sprinkle cheese evenly over the skillet, cover, and cook over medium-low heat for 3-5 minutes until egg whites are set and yolks are cooked to your liking.
Garnish with fresh parsley or chives and serve directly from the skillet with hot sauce or sour cream on the side.