In a small bowl, mix warm water and sugar, then add instant yeast. Let sit for 5-10 minutes until frothy.
In a large mixing bowl, combine the flour, salt, garlic powder, and Italian seasoning.
Add the yeast mixture and vegetable oil to the dry ingredients. Stir until combined, then knead the dough on a floured surface for 6-8 minutes until smooth and elastic.
Place the dough in a greased bowl, cover with a damp towel, and let rise for 1 hour or until doubled in size.
Punch down the dough and divide it into 2 equal portions. Shape each into an 8-10 inch loaf and place on a greased baking sheet.
Sprinkle shredded Colby Jack and grated Parmesan cheese generously on top of each loaf.
Cover the loaves with a towel and let rise for another 30 minutes.
Preheat the oven to 375°F (190°C) and bake the bread for 20-25 minutes, or until golden brown and the internal temperature reaches 190°F (88°C).
Let the bread cool on a wire rack for a few minutes before slicing. Serve with your favorite sandwiches, wraps, or enjoy fresh out of the oven.