Start by rinsing the small raw shrimp under cold water and patting them dry with paper towels. If you're using popcorn shrimp, there's no need for chopping—just set them aside for now.
In a large skillet over medium heat, melt the butter. Once melted, add the chopped red bell pepper, sweet onion, and minced garlic. Sauté for about 5-7 minutes, until the vegetables are soft and fragrant.
Add the shrimp to the skillet along with the Cajun seasoning. Cook for an additional 3-4 minutes, or until the shrimp are pink and cooked through. Remove from heat and let it cool slightly.
In a large mixing bowl, combine the cream cheese, mayonnaise, shredded cheddar cheese, grated parmesan cheese, chopped scallions, lemon juice, and Louisiana hot sauce (if using). Mix until well combined and creamy.
Once the shrimp and vegetables have cooled a bit, fold them into the creamy mixture. Stir gently until everything is evenly distributed.
If you prefer a warm dip, transfer the mixture to a baking dish and bake in a preheated oven at 350°F (175°C) for about 20-25 minutes, or until bubbly and golden on top.
Once baked or mixed and chilled, serve your Cajun Shrimp Dip warm or cold with your favorite dippers.