In a mixing bowl, combine the softened cream cheese, cheddar cheese, pepper jack cheese, and taco seasoning until smooth.

Gently fold in the chopped bell peppers, onions, and olives until evenly distributed.

Lay a tortilla flat on a clean surface and spread an even layer of the filling over it, leaving about half an inch around the edges.

Roll the tortilla tightly from one end to the other; ensure it's snug but not overly tight.

Wrap each rolled tortilla in plastic wrap and refrigerate for about 30 minutes to firm up.

Once chilled, unwrap and slice each roll into pinwheels about 1 inch thick. Serve with sour cream on the side.