Prepare baked potatoes. Hold warm until service.
CCP: Maintain hot food at 140°F or above
Combine all remaining ingredients except ripe olives and banana peppers in full steam table pan; cover. Heat until sauce reaches 165°F for at least 15 seconds.
CCP: Heat to 165°F for at least 15 seconds
Serve 3 ounces (one #10 scoop or 3-ounce spoodle) cheese sauce mixture over baked potato. Top with ripe olives and banana peppers, if desired.
This sauce can be served over French fries, tater tots, tortilla chips, rice or pasta.