In the bowl of a stand mixer fitted with a dough hook, stir together yeast and water. Let rest for approximately 3 to 5 minutes.
Stir in sugar, garlic powder, cayenne, 1/4 cup melted butter and olive oil until combined. Gradually add in flour and salt, until combined. Allow the stand mixer to knead the dough for 10 minutes or you can knead by hand. Add dough to a greased bowl and cover. Allow to rise for 30 minutes.
Preheat oven to 375 degrees. Grease a large baking sheet.
Divide dough into approximately 20 pieces. Pat each piece into a disk, place a chunk of mozzarella in the center and pinch the edges over the cheese tightly. Place seam side down on the baking sheet. Repeat with the rest of the dough.
Sprinkle rolls with shredded cheddar and Parmesan. Bake for 11 to 15 minutes, until golden brown and the cheese is bubbling. Brush with additional melted butter and serve.