Preheat the oven to 425°F (220°C). Slice the Italian bread loaf in half lengthwise.
In a bowl, stir together 8 tablespoons butter, 8 minced garlic cloves, 3 tablespoons Parmesan cheese, ½ teaspoon dried basil, ½ teaspoon dried oregano, and kosher salt and freshly ground black pepper to taste until well combined and spreadable.
Spread the garlic-butter mixture evenly over the cut sides of both bread halves.
Drizzle 2 tablespoons olive oil evenly over the cut sides (about 1 tablespoon per half).
Place the bread halves cut-side up on a baking sheet, leaving space between them.
Bake in the preheated oven for 10 to 15 minutes, until the bread is golden and the edges are toasted.
Remove the baking sheet from the oven, evenly sprinkle 1½ cups shredded provolone or mozzarella cheese over the cut sides, and return to the oven for 2 to 3 minutes more, until the cheese melts.
Remove from the oven, top with crushed red pepper and chopped fresh parsley, sprinkle additional Parmesan as desired, slice, and serve.