Heat 1 tablespoon olive oil in a 6-quart Dutch oven or heavy-bottom pot over medium-high heat until shimmering. Add the onion and cook, stirring occasionally, until softened, about 5 minutes. Add the garlic and cook 1 minute more.
Brown the beef. Add lean ground beef and season with salt and pepper. Cook, breaking up the meat into smaller pieces with a wooden spoon, until browned, beginning to crisp, and cooked through, 5 to 7 minutes.
Add the seasonings and liquid. Add 1 tablespoon tomato paste and cook, stirring, until well-incorporated and darkened slightly in color, 1 to 2 minutes. Stir in 1 can fire-roasted diced tomatoes and their juices, 1 can tomato sauce, 1 1/2 cups beef or chicken broth, 1 tablespoon Worcestershire sauce, 1 tablespoon dried Italian seasoning, and 2 bay leaves. Bring to a boil.
Add the macaroni and simmer. Stir in 1 cup elbow macaroni. Reduce the heat to medium-low and simmer uncovered, stirring occasionally to prevent sticking, until the pasta is just tender, 15 to 18 minutes. Meanwhile, shred 4 ounces sharp cheddar cheese, plus more for serving if desired.
Add the cheese. Remove the pot from the heat. Remove and discard the bay leaves. Stir in the cheese until well-incorporated. Top with more grated cheese for serving, if desired.