Place ribeye in freezer for 20 minutes for easier slicing. Slice thinly against the grain.
Toss steak with olive oil, salt, pepper, and garlic powder.
Air fry onions and bell peppers at 375°F for 5–6 minutes until softened. Remove and set aside.
Air fry steak at 400°F for 6–8 minutes, shaking halfway through.
Return veggies to the basket, divide steak into portions, top with provolone, and air fry 1–2 minutes until melted.
Lightly toast hoagie rolls, fill with cheesy steak mixture, and serve immediately.