Preheat your air fryer to 400°F (200°C) for a few minutes.
In a large skillet, heat the olive oil over medium heat. Add the diced red onion and bell peppers. Cook for 3-4 minutes until they start to soften.
Add the ground beef or turkey to the skillet and cook, breaking it apart with a spatula, until it's fully cooked and no longer pink.
Drain any excess grease from the meat and vegetables. Add the taco seasoning, chili powder, cumin, salt, and pepper to the skillet. Stir well to coat the meat and vegetables with the seasoning.
Stir in the corn kernels and black beans, and let the mixture cook for another 2-3 minutes until everything is heated through.
Stir in the enchilada sauce and bring the mixture to a simmer. Let it cook for a few more minutes until the flavors are well combined.
Meanwhile, cut the refrigerated biscuit dough into bite-sized pieces.
In a separate mixing bowl, combine the biscuit pieces with the taco meat mixture. Toss everything together until the biscuit pieces are coated with the sauce.
Transfer the mixture to an oven-safe casserole dish that fits inside the air fryer basket. Spread it out evenly.
Sprinkle shredded cheddar cheese over the top of the casserole.
Place the casserole dish in the air fryer basket and air fry at 400°F (200°C) for 15-20 minutes or until the biscuit pieces are fully cooked and the cheese is melted and bubbly.
Remove the Taco Fiesta Bubble Up Casserole from the air fryer and let it cool slightly. Garnish with chopped cilantro if desired.
Serve the casserole with optional toppings like sour cream and sliced jalapenos, and enjoy your delicious Air Fryer Taco Fiesta Bubble Up Casserole!