Stir until the mixture is smooth and well-blended.
Add the buttermilk to the bowl.
Whisk the buttermilk into the sour cream and mayonnaise until fully incorporated.
Add the ranch seasoning mix, chili powder, and cayenne pepper.
Mix these dry ingredients thoroughly with the wet mixture.
Pour in the hot sauce next.
Stir until the hot sauce is evenly distributed throughout the mixture.
Adjust the amount according to your preferred level of spiciness.
Taste the sauce and add a little salt if necessary.
Refrigerate for at least 30 minutes to let the flavors meld.