Heat oven to 400°F (205°C). Steam cauliflower for 5 minutes until just tender.
Sauté fennel (and onion if using) in 1 tbsp olive oil until soft and lightly golden.
In a saucepan, warm 2 tbsp olive oil. Whisk in flour and cook 1 minute. Slowly add broth, whisking until smooth and thickened. Stir in nutritional yeast or parmesan (optional), Dijon, salt, pepper, and nutmeg.
Combine cauliflower and fennel in a baking dish. Pour the sauce over and gently fold to coat.
Toss panko with a drizzle of olive oil and sprinkle over the top.
Bake 20–25 minutes until bubbling and golden. Rest 5–10 minutes before serving. Finish with chopped fennel fronds.
Optional Upgrades: Add thyme or rosemary, fold in white beans or chicken, or broil for extra crisp.