Add hot sauce, water, and vinegar to a small saucepan.
Stir in garlic powder, onion powder, smoked paprika, and cayenne pepper.
Simmer over low heat for 5 minutes, stirring occasionally.
Add Worcestershire sauce and optional salt if using.
For a creamy version, stir in Greek yogurt or light butter.
Cook for 1 more minute, then remove from the heat.
Let cool slightly, then bottle and refrigerate for up to 1 week.