Heat olive oil in a large skillet over medium heat. Add chopped onion and garlic, sautéing for 2–3 minutes until fragrant. Stir in the rice and toast it lightly for about 2 minutes to enhance its flavor before adding liquids.
Pour in chicken broth and tomato sauce, then season with cumin, paprika, salt, and pepper. Stir well, bring to a gentle boil, then reduce heat, cover, and simmer for 18–20 minutes until the rice is tender and fully cooked.
While the rice cooks, melt butter in another skillet over medium-high heat. Add the steak pieces and season with steak seasoning. Cook for 3–5 minutes until browned and cooked to your preferred doneness. Avoid overcooking to keep the steak tender.
Fluff the cooked rice with a fork and transfer to serving bowls. Top with the cooked steak and drizzle generously with warm queso. Garnish with fresh cilantro and serve immediately.