Grill the corn, cool it, and cut it off the cob. Set aside. Prepare the rest of the ingredients.
Heat a large, heavy-bottomed stockpot over medium heat. Add the oil. When it shimmers, add the onions and the red pepper flakes and sauté them for 3-4 minutes. Then add the peppers and continue to sauté for another 3-4 minutes. Finally, add the garlic and the smoked paprika and sauté for another 2-3 minutes. Turn the heat to low or turn it off.
Remove ½ cup of the vegetables from the pot to a blender along with about a quarter of the corn and ½ cup of stock. Blend until smooth.
Turn the heat back to medium under the vegetables, add the flour and stir to combine. Slowly whisk in the stock, then the blended veggies. Bring to a simmer, throw in a stem or two of cilantro, and cook gently for 10-15 minutes, stirring occasionally to prevent sticking.
Using tongs, pull out the cilantro and discard.
Add the cheese and stir to melt. Then add the half and half, continuing to heat and stir (but don’t boil).
Add the lime juice and taste, then add salt and pepper and cayenne to taste.