Heat a 12‑inch skillet over medium‑high heat and add the ground beef. Brown the beef, breaking it up with a spoon, until no pink remains.
Add the chopped onion and minced garlic to the skillet and cook about 1 minute, then add the chopped red bell pepper and cook another 2–3 minutes until the onion is translucent and the pepper is tender.
Reduce heat to medium‑low and stir in the dry orzo, taco skillet sauce, and chicken broth. Season with salt, pepper, and the hot sauce.
Simmer, uncovered, stirring occasionally, for about 10–12 minutes or until the orzo has absorbed the liquid and is tender.
Remove from heat and stir in the shredded cheese until melted; alternatively, sprinkle the cheese over the top and cover the skillet briefly until melted.
Top with chopped tomatoes, olives, green onions, and fresh cilantro. Serve immediately.