In a medium bowl, combine the softened cream cheese, freshly shredded cheddar cheese, crispy crumbled bacon, finely diced jalapeños, garlic powder, and smoked paprika. Mix until fully combined and evenly distributed—the filling should be creamy with visible bacon and jalapeño pieces throughout. I like to taste a small spoonful at this point to adjust the seasoning; sometimes I add a pinch more smoked paprika if I want deeper flavor.
Lay out an egg roll wrapper on a clean, dry surface in a diamond orientation. Place approximately 1/3 cup of the filling from Step 1 in the center of the wrapper. Wet the edges of the wrapper with water using your fingers or a pastry brush—this acts as an edible glue. Fold the bottom corner up and over the filling, then fold in the left and right corners, and finally roll tightly away from you to create a seal. Place seam-side down on a plate. Repeat with remaining wrappers and filling. I recommend assembling all egg rolls before you start frying so you can work quickly once the oil is hot.
Pour vegetable oil into a heavy-bottomed pot or deep skillet to a depth of about 2 inches and heat to 350°F, using a thermometer to ensure accuracy. While the oil heats, stir the fresh lime juice into the ranch dressing in a small bowl until combined. Set the dipping sauce aside at room temperature.
Once the oil reaches 350°F, carefully place 3-4 assembled egg rolls into the hot oil, being careful not to overcrowd the pot. Fry for 2-3 minutes until the first side is golden brown, then flip and fry for another 2-3 minutes until the second side is equally brown and crispy. Using a slotted spoon or spider strainer, transfer the cooked egg rolls to a paper towel-lined plate to drain excess oil. Repeat with remaining batches, allowing the oil to return to 350°F between batches. Serve immediately while still warm and crispy, with the lime-ranch dipping sauce on the side.