Cook the farfalle pasta al dente according to the package instructions. Reserve 1 cup of the pasta water, then drain the pasta and set both aside.
In a large skillet over medium heat, cook the ground beef until browned and no pink remains, about 8 to 10 minutes. Drain any excess grease.
Add the butter and minced garlic to the skillet, stirring and cooking for about 1 minute until fragrant.
Stir in the corn, heavy whipping cream, dry ranch seasoning mix, paprika, and black pepper. Bring the mixture to a gentle simmer.
Reduce the heat to low and stir in the shredded cheddar cheese and grated Parmesan cheese. Continue stirring until the cheese has fully melted and the sauce is smooth.
Add the cooked pasta to the skillet and stir until the pasta is evenly coated in the sauce. If the sauce is too thick, gradually stir in reserved pasta water a little at a time until you reach your desired consistency.
Garnish with chopped fresh parsley and additional grated Parmesan cheese. Serve warm.