Melt the butter and olive oil in a wide skillet over medium-low heat. Add the sliced onion and granulated sugar, stir to coat, and cook for 25 to 30 minutes, stirring every 4 to 5 minutes, until the onions are deep amber and jammy. Set aside.

Combine the ground beef, garlic powder, onion powder, kosher salt, and black pepper in a bowl. Mix briefly, then divide into 4 equal patties, pressing each one slightly wider than the bun.

Heat a cast-iron skillet over medium-high for 2 minutes. Cook the patties 3 minutes on the first side, flip, top each with a slice of American cheese, and cook another 2 to 3 minutes until the internal temperature reaches 160°F (71°C) and the cheese is melted.

Stir together the ranch dressing, smoked paprika, and hot sauce in a small bowl until evenly combined.

Toast the buns cut-side down in the same skillet over medium heat for 90 seconds until golden. Spread smoky ranch on both bun halves, set a patty on each bottom bun, pile on caramelized onions and 4 to 6 pickled jalapeño slices, then press the top bun on and serve immediately with the jalapeños visible at the edges.