In a large mixing bowl, combine cream cheese, sour cream, oregano, parsley, and basil. Mix until evenly distributed. Add 3/4 cup mozzarella and 1/4 cup Parmesan, mixing to incorporate.
Add this mixture to baking dish, then top with the pizza sauce. Sprinkle on the pepperonis, then the remaining cheese, then the black olives. Garnish with extra oregano, parsley, and basil if desired.
Bake until the dip is warmed through and bubbly, about 20 minutes.
This recipe can be made 1 to 2 days ahead, then baked when ready to serve. Try adding your favorite pizza toppings! It's great with bell peppers, onions, and mushrooms too. And if the pepperoni seems too greasy, sweat them over the stove to remove the fat and crisp them up before adding them.