Warm olive oil in a large pot set over medium-high heat. Add the diced onion, bell pepper, and lean ground beef, cooking until the beef is browned throughout. Drain excess fat and return the pot to the stove. Stir in the minced garlic and cook briefly until aromatic, about 30 seconds. Pour in the tomato sauce, petite diced tomatoes, beef broth, Worcestershire sauce, seasoned salt, Italian seasoning, bay leaves, and uncooked macaroni noodles. Mix thoroughly and bring to a rolling boil. Lower the heat to a gentle simmer, stirring on occasion, until the pasta becomes tender, approximately 20 minutes. Discard the bay leaves and fold in the shredded cheddar cheese just before serving. Savor immediately.