Preheat the oven to 375°F.
Add the cashews and hot water to a blender and let it sit for 5-10 minutes. This will soften the cashews before blending.
While the cashews soak, slice the potatoes into ⅛ inch pieces. This is easier with a mandolin slicer, but can be done with a knife if you're patient enough.
Transfer potato slices into a baking dish, and spread them evenly across the dish.
Add the nutritional yeast, onion powder, garlic powder, smoked paprika, and salt to the blender then blend until smooth.
Pour the mixture over the potatoes. Cover with aluminum foil and bake for 35 minutes. Remove the aluminum foil, raise the heat to 400°F, and bake for an additional 10 minutes.