Cook the ground beef and chopped onion in a skillet over medium-high heat until the meat is browned, seasoning it with salt, pepper, cayenne, cumin, dried cilantro, and chili powder.
Drain off any excess fat and push the beef mixture to the edges of the skillet. Pour in the olive oil and add the rinsed jasmine rice, stirring it for a couple of minutes.
Stir in tomato sauce, minced garlic, and beef broth, then bring the mixture to a boil.
Cover the pan and reduce the heat to medium-low, letting it simmer for around 20 minutes until the rice is tender.
Fluff the rice with a fork, turn off the heat, and let the skillet rest covered for 5 minutes.
Warm the queso cheese dip and drizzle it over the beef and rice mixture. Garnish with fresh cilantro and serve alongside flour tortillas and pico de gallo if desired.