Preheat the oven to 350°F (175°C).
In a large skillet over medium heat, brown the ground beef until fully cooked. Drain excess fat if necessary.
Add the chopped onion to the skillet and sauté for about 5 minutes until softened.
Stir in the diced potatoes and frozen mixed vegetables, mixing well.
Add the garlic powder, salt, black pepper, and paprika to the mixture, stirring to combine.
Pour in the condensed cream of mushroom soup and water, mixing until everything is evenly coated.
Transfer the beef and vegetable mixture to a greased 3-quart baking dish, spreading it out evenly.
Cover the dish with aluminum foil and bake in the preheated oven for 30 minutes.
Remove the foil, sprinkle the shredded cheddar cheese on top, and bake for an additional 15 minutes, or until the cheese is melted and bubbly.
Remove from the oven and let it cool for a few minutes before serving.