In a large pot, boil salted water. Cook pasta until al dente following package instructions. Save at least ½ cup of pasta water.
Mix fresh shrimp with 2 teaspoons of Old Bay Seasoning and lemon juice in a bowl.
In skillet, melt 1 tablespoon butter with 1 tablespoon olive oil. Sauté ½ tablespoon minced garlic until fragrant. Add shrimp, cook until pink. Remove shrimp, set aside on a plate.
In the same skillet on medium heat, melt 2 tablespoons of butter. Sauté shallots until translucent. Add 1½ tablespoons of minced garlic, cook until fragrant.
Add white wine, scrape up pan bits. Simmer until wine reduces to 1 tbsp.
Add cream, cheese, and 1 tablespoon Old Bay seasoning. Stir until cheese melts. Add shrimp and parsley, stir to combine.
Reduce heat to low, add pasta, toss to coat. Add reserved pasta water to adjust sauce consistency.
Taste and season with more Old Bay Seasoning, cream, salt, and/or black pepper if needed. Turn off heat, serve with extra parmesan cheese and parsley.