Preheat oven to 400°F (200°C) and line a baking sheet with parchment paper.
Heat 1 tablespoon of olive oil in a large skillet over medium-high heat. Add onions and bell peppers, sautéing until softened and slightly caramelized, about 8 minutes. Remove from skillet.
Add the remaining olive oil to the same skillet. Increase heat to high and sear the steak slices quickly until browned. Season with salt, pepper, and garlic powder. Drain any excess liquid.
Roll out the pizza dough on a floured surface into a 12x16 inch rectangle.
Layer the provolone and mozzarella cheese over the dough, leaving a 1-inch border on all sides. Top with the steak, onions, and peppers.
Starting from the long side, roll the dough tightly into a log. Pinch the seams and tuck the ends under to seal.
Whisk the egg and water to create an egg wash. Brush the top of the stromboli with the egg wash and use a sharp knife to cut 3-4 diagonal slits across the top.
Bake for 20 to 25 minutes or until the crust is golden brown and the cheese is bubbly. Allow to rest for 5 minutes before slicing.