Preheat your oven to 450°F. While it heats, spread the trimmed asparagus on a large sheet pan in a single layer. Drizzle with olive oil and season evenly with salt and pepper, tossing gently to coat all spears. Once the oven reaches temperature, place the pan on the middle rack and roast for 8-10 minutes until the asparagus is tender-crisp with lightly browned tips. I prefer my asparagus still slightly firm, so I check it at 8 minutes rather than waiting the full time.

While the asparagus roasts, start your hollandaise. Place the egg yolks and freshly squeezed lemon juice in a blender and blend for about 15 seconds until well combined and pale. This emulsifies the yolks and creates the foundation for a smooth, creamy sauce.

While the sauce base blends, melt the unsalted butter in a small saucepan over medium heat for 30-45 seconds—it should be hot but not sizzling. With the blender running on medium speed, add the hot water to the yolk mixture first, blending for a few seconds to incorporate it. Then slowly drizzle in the hot melted butter in a thin, steady stream while continuing to blend. I like to pause and scrape down the sides halfway through if needed to ensure everything incorporates evenly. Continue blending for 30-60 seconds total until the sauce is thick and creamy. Taste and add the additional 1/4 tsp salt, smoked paprika, and cayenne pepper, blending briefly to combine.

Remove the roasted asparagus from the oven and arrange on a serving platter or individual plates. Pour the warm hollandaise sauce generously over the asparagus, allowing it to pool slightly around the spears. Give the dish a final light dusting of smoked paprika for color and a hint of smoky flavor, and serve immediately while everything is hot.