Bring a large pot of salted water to a boil and cook the tortellini according to package instructions until al dente.
Reserve ½ cup of pasta water, then drain the tortellini and set aside.
Heat olive oil in a large skillet over medium-high heat.
Season steak pieces with ½ teaspoon salt, ½ teaspoon pepper, and paprika.
Sear the steak in the skillet for 2 to 3 minutes per side until browned and cooked to your desired doneness, then remove and set aside.
Reduce the skillet heat to medium and add butter and olive oil.
Cook the minced garlic in the skillet for about 30 seconds until fragrant.
Pour in the heavy cream and bring it to a gentle simmer.
Stir in Parmesan cheese, Italian seasoning, remaining black pepper, and salt to taste.
Simmer the sauce for 3 to 5 minutes until it thickens slightly.
Add the cooked tortellini to the sauce and toss gently to coat, adding reserved pasta water gradually as needed to loosen the sauce.
Return the steak to the skillet and toss lightly to combine. Heat for 1 to 2 minutes until everything is warmed through.
Serve the tortellini and steak plated generously, garnished with chopped parsley and extra Parmesan cheese if desired.