Cut the cube steak into strips about 1 inch wide and 4 inches long.
In one bowl, mix flour, garlic powder, onion powder, smoked paprika, salt, black pepper, and cayenne pepper.
In another bowl, whisk together eggs and milk.
If using panko, place it in a third bowl.
Dip each steak strip into the flour mixture, then into the egg mixture, and back into the flour (or panko for extra crunch). Press lightly to ensure the coating sticks well.
In a large skillet, heat oil over medium heat until it reaches 350°F (175°C).
Fry the steak fingers in batches for 2-3 minutes per side until golden brown and crispy. Avoid overcrowding the pan.
Remove and drain on a paper towel-lined plate.
For the gravy: In a saucepan, melt butter over medium heat.
Whisk in flour and cook for 1-2 minutes until lightly golden.
Gradually whisk in milk, stirring continuously until the gravy thickens.
Season with salt and black pepper.
Serve steak fingers hot with a side of creamy country gravy for dipping.