Heat olive oil in a large skillet over medium-high heat until shimmering, about 1-2 minutes.

Add shrimp and smoked sausage to the skillet, sprinkle Cajun seasoning, and sauté for about 4-5 minutes until shrimp is pink and sausage is golden. Remove and set aside.

Reduce heat to medium, melt butter in the same skillet, then add diced onion, red bell pepper, and green bell pepper. Sauté for 5-6 minutes until softened.

Stir in minced garlic and cook for 30 seconds, stirring to prevent burning.

Add chicken broth and remaining Cajun seasoning. Bring to simmer over medium heat for 3-4 minutes.

Pour in heavy whipping cream and cayenne pepper if desired. Stir and simmer for 4-5 minutes until sauce thickens.

Return shrimp and sausage to skillet, gently folding into the sauce. Cook over low heat for 2-3 minutes.

Taste and adjust seasoning with salt, pepper, and additional cayenne if preferred.