Cook the elbow macaroni according to package instructions until al dente. Drain and rinse under cold water to cool.
In a large bowl, combine the cooled macaroni, cherry tomatoes, black beans, corn, red bell pepper, red onion, cilantro, and cheddar cheese.
In a separate bowl, whisk together the mayonnaise, sour cream, lime juice, chili powder, cumin, salt, and pepper until smooth.
Pour the dressing over the macaroni mixture and toss gently until everything is well coated.
Cover and refrigerate for at least 30 minutes to allow the flavors to meld.
Serve chilled or at room temperature, garnished with additional cilantro if desired.