Combine cream cheese and processed cheese in a slow cooker on Low.
Heat olive oil in large skillet over medium heat; cook and stir onion and green bell pepper until tender, about 8 minutes. Add Worcestershire sauce and simmer. Mix rib-eye steak, salt, and pepper into onion mixture; cook and stir until steak is browned, about 5 minutes. Drain extra grease. Stir process cheese spread into steak mixture until melted. Pour cheese-steak mixture into the slow cooker.