Place softened cream cheese in a mixing bowl.
Add sour cream or mayonnaise and mix until smooth and spreadable.
Add shredded cheese, bell peppers, green onions, olives (if using), salt, and black pepper.
Mix until evenly combined.
Lay a tortilla flat on a clean surface.
Spread an even layer of filling across the entire tortilla.
Roll the tortilla tightly into a log shape.
Wrap in plastic wrap and refrigerate for at least 30 minutes.
Remove from refrigerator and slice into 2–3 cm thick pinwheels.
Arrange on a serving plate and garnish with fresh herbs if desired.