Preheat your grill to medium-high heat, around 400°F if you have a thermometer. While it heats up, pull back the corn husks gently without removing them completely. Rinse out any silk strands under running water and pat the kernels dry with paper towels.
Brush each ear with olive oil, coating all sides evenly. I usually do this right over the sink to avoid the mess. Once oiled, fold the husks back up to cover the kernels and set the ears aside on a clean plate.
Mix together the melted butter, lime juice, smoked paprika, chili powder, garlic powder, salt, and pepper in a small bowl. Stir in the fresh cilantro and set your butter mixture nearby the grill. This is your secret flavor weapon, and you'll use it as the corn cooks.
Place the corn directly on the grill grates with the husks facing up. Grill for about 8-10 minutes, rotating every 2-3 minutes so all sides get that beautiful char. The husks will start blackening—that's exactly what you want, so don't panic.
Once the husks are mostly charred and you can see golden brown spots on the kernels, pull the ears off the grill carefully (they're hot!). Peel back the husks and brush the butter mixture generously all over the corn. The heat from the kernels will melt the butter into all those little crevices.
Top each ear with the grated cheese while the corn is still warm so it sticks and melts slightly. I always sneak an extra pinch of chili powder on top because I love that kick. Serve immediately while everything's still hot and buttery.