Place steak in a medium bowl. Add Worcestershire, soy sauce, pepper, salt, onion powder, garlic powder, and olive oil. Mix until the marinate evenly covers the meat. Marinate, covered, in the fridge for 30 minutes- 4 hours.

Preheat the oven to 425°F. Line a rimmed baking sheet with parchment paper. Remove meat from the fridge. Arrange the sliced peppers and onions on the baking sheet. Evenly spread the meat and mix with the veggies so they are also covered in the marinate.

Place the baking sheet in the oven and bake for 18 minutes. While the steak cooks, prepare the cheese sauce and toast the bun.

To toast the hoagie buns, lightly toast them by adding a little oil to a flat-top or skillet. Split the buns lengthwise and toast the buns. Set them aside.

To make the cheese sauce, melt the butter in a saucepan. Whisk in the flour. The mixture will become very thick. Add the milk and whisk as the mixture thickens, about 2 minutes. Next, add the cheese and whisk until melted.