Begin by cooking the pasta: In a large pot of boiling salted water, add the fettuccine and cook until al dente, following the package instructions. Drain the pasta and set aside, without rinsing.
Prepare the shrimp and sauce: Season the shrimp evenly with 1/2 teaspoon of salt, 1/4 teaspoon of black pepper, and 1/4 teaspoon of paprika. In a large non-stick skillet, heat 1 tablespoon of olive oil over medium-high heat. Once the oil is hot, arrange the shrimp in a single layer and cook for about 2 minutes on each side, or until pink and fully opaque. Transfer the shrimp to a separate dish to avoid overcooking.
In the same skillet, melt 2 tablespoons of butter and add the finely chopped onion. Sauté the onion over medium heat until it becomes soft and golden, approximately 3 to 5 minutes, stirring frequently. Add the minced garlic and sauté for an additional minute until fragrant.
Pour in the white wine and bring to a boil. Allow the wine to reduce until about 25% of the liquid remains. Stir in the heavy cream, bringing the mixture to a gentle boil. Reduce the heat and simmer for 2 minutes.
Gradually sprinkle in the Parmesan cheese, stirring until the sauce achieves a smooth and creamy consistency. Remove from heat and adjust seasoning with additional salt, black pepper, and paprika, if desired.
Incorporate the cooked pasta and shrimp, tossing to ensure the noodles are well coated in the sauce. Serve the pasta in warm bowls, garnished generously with chopped parsley, extra Parmesan, and freshly cracked black pepper.