In a small bowl, combine the chili powder, paprika, cumin, and cayenne pepper. Mix well then set aside.
Heat the olive oil in a large skillet over medium-high heat. Add the onion and cook until soft; about 6 minutes or so. Add the corn, garlic, and the spice mixture. Season with salt and pepper. Stir and cook until the corn is warmed through; about 5 minutes. Reduce heat to low.
Mix in the cream cheese until melted. Stir in sour cream, and lime juice. Continue to stir until all is warmed through. Thin with milk, if desired.
Transfer dip to a pie plate or serving bowl. Top evenly with queso fresco and cilantro. Serve with tortilla chips and enjoy!