01 - Preheat the oven to 400°F. Line a baking sheet with parchment paper.
02 - Carefully halve the spaghetti squash lengthwise and scoop out the seeds. Brush the cut sides lightly with olive oil if desired.
03 - Place the squash halves cut-side down on the prepared baking sheet. Roast for 35 to 40 minutes until the flesh is fork-tender and strands separate easily.
04 - While the squash roasts, melt the butter in a medium saucepan over medium heat. Whisk in the flour and cook for 1 minute. Slowly whisk in the milk until smooth. Bring to a simmer, stirring constantly, until the sauce thickens, about 2 to 3 minutes.
05 - Remove from heat and stir in the cheddar cheese, Parmesan cheese, garlic powder, ground mustard, salt, and black pepper until the cheese is fully melted and the sauce is smooth.
06 - Use a fork to shred the roasted squash flesh into spaghetti-like strands. Transfer the strands to a large bowl and gently toss with the cheese sauce until evenly coated.
07 - Transfer the mixture to a greased baking dish. In a small bowl, combine the panko breadcrumbs, Parmesan cheese, and melted butter. Sprinkle the topping evenly over the squash. Broil on high for 2 to 3 minutes until golden brown.
08 - Serve warm, garnished with extra Parmesan or fresh herbs if desired.