In a large skillet over medium heat, melt butter. Add in flour and stir, cooking until golden and toasted, about 3 to 4 minutes, stirring often.
Stir in garlic powder, smoked paprika, and cayenne. Cook for 30 seconds or so, stirring constantly.
Whisk in broth until incorporated and thick. Add in chipotle peppers and pumpkin puree, whisking to combine.
Stir in shredded cheese and chorizo until the cheese has melted. I like to reserve a little bit of the chorizo and peppers for sprinkling on top!
Season with salt and pepper to taste. Enjoy warm.