Begin by cooking the bacon in the oven or on the stove. While the bacon is cooking, place the potatoes in a large pot. Cover them with water and bring to a boil over high heat. Reduce the heat to maintain a low boil and avoid overflowing the pot.
Cook the potatoes until fork-tender, about 9-10 minutes. Drain under cold water and set aside. When the bacon is finished cooking, set it aside to drain on paper towels.
In a large mixing bowl, whisk together the mayonnaise, hot sauce, lime juice, chili powder, paprika, salt, and pepper. Taste and adjust seasonings as desired.
Add the potatoes, eggs, corn, bacon, green onion, and cilantro to the bowl. Stir to combine. Serve immediately or refrigerate until ready to serve. Top individual servings with cotija cheese, if desired.