In a skillet over medium heat, add 2 teaspoons of olive oil. Once hot, add the finely chopped red bell pepper and yellow onion. Sauté until the onion becomes translucent, about 5 minutes. Add the minced garlic and cook for an additional minute until fragrant. Remove from heat and set aside.
In a large mixing bowl, combine the room temperature cream cheese and mayonnaise. Mix until smooth and creamy. This will be the base of your dip.
To the cream cheese mixture, fold in the shredded Monterey Jack cheese and Parmesan cheese. Mix until well incorporated.
Gently fold in the lump crab meat, sautéed vegetables, Worcestershire sauce, lemon juice, minced parsley, Old Bay seasoning, and hot sauce. Be careful not to break up the crab too much—keep those beautiful lumps intact!
Preheat your oven to 350°F (175°C). Transfer the mixture to a baking dish, spreading it out evenly.
In a small bowl, combine the Panko bread crumbs, 1 tablespoon of Parmesan cheese, and melted butter. Mix until the crumbs are well coated. Sprinkle this mixture evenly over the crab dip.
Bake in the preheated oven for 20-25 minutes, or until the top is golden brown and the dip is bubbly.
Remove from the oven and allow it to cool for a few minutes before serving. Garnish with additional parsley for a fresh touch. Serve warm with your favorite dippers, and watch it disappear!