Bring a large pot of salted water to a boil. Add the bow tie pasta and cook according to package instructions until al dente. Drain and set aside.
In a large skillet, heat olive oil over medium-high heat. Add the ground beef and cook, breaking it up with a spoon, until browned and cooked through, about 5-7 minutes. Drain excess fat if necessary.
Add the diced onion to the skillet with the beef and cook until softened, about 3 minutes. Stir in the minced garlic and cook for 1 minute until fragrant.
Pour in the beef broth and whole milk, then sprinkle the ranch seasoning mix over the mixture. Stir to combine.
Add the cream cheese cubes to the skillet and stir continuously until the cream cheese is melted and the sauce is creamy and smooth.
Add the cooked bow tie pasta to the skillet and stir to coat the pasta evenly with the creamy ranch sauce.
Sprinkle the shredded cheddar cheese over the pasta and beef mixture. Stir until the cheese is melted and incorporated.
Season with salt and black pepper to taste. Remove from heat.
Garnish with chopped fresh parsley before serving.