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Ingredients
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Shrimp & coatings
Frying oil
Cocktail sauce
Finishing & garnish
Method
Prep & coating stations
Dry mix
In a shallow bowl or rimmed plate combine the all-purpose flour, cornmeal (or cornstarch), 1/2 teaspoon garlic powder, 1/4 teaspoon onion powder, 1/4 teaspoon smoked paprika and 1/2 teaspoon kosher salt and 1/4 teaspoon black pepper. Whisk to evenly distribute.
Egg wash
In a second shallow bowl whisk together the 2 large eggs and 1/2 cup whole milk until smooth.
Panko mix
In a third shallow bowl combine the panko breadcrumbs, grated Parmesan (if using), remaining 1/2 teaspoon garlic powder, 1/4 teaspoon onion powder, 1/4 teaspoon smoked paprika and 1/4 teaspoon cayenne. Season with a pinch (about 1/4 teaspoon) kosher salt and a few grinds of black pepper; toss to break up crumbs so they are loose and airy.
Frying
Heat 1 to 1 1/4 cups neutral oil in a deep skillet or sauté pan to 350°F (175°C) over medium-high heat. If you don't have a thermometer, heat until a cube of bread browns in about 60 seconds.
Pat the shrimp dry with paper towels. Working in small batches (about 6–8 shrimp at a time so the oil temperature remains steady), dredge each shrimp first in the dry flour mixture, shaking off excess; then dip into the egg wash, letting excess drip off; finally press into the panko mixture to coat completely. Place coated shrimp on a wire rack or plate while you finish coating the rest.
When the oil reaches 350°F, carefully lower a single layer of coated shrimp into the oil. Do not overcrowd the pan. Fry for 1.5 to 2.5 minutes, turning once, until the panko is deep golden and the shrimp are opaque and cooked through. Smaller shrimp will cook quickly — watch closely.
Use a slotted spoon or spider to transfer fried shrimp to a paper towel–lined sheet or wire rack set over a baking sheet to drain. Season immediately with a light pinch of kosher salt. Keep warm in a 200°F (95°C) oven if making multiple batches.
Cocktail sauce & finishing
While frying, make the cocktail sauce: whisk together 1/2 cup ketchup, 2 tablespoons prepared horseradish, 1 tablespoon lemon juice, 1/2 teaspoon Worcestershire sauce, 1/2 teaspoon hot sauce (if using), 1/8 teaspoon salt and 1/8 teaspoon black pepper. Taste and adjust horseradish or hot sauce to your heat preference.
Transfer the popped shrimp to a platter. Garnish with chopped fresh parsley and serve immediately with lemon wedges and the cocktail sauce on the side.