Preheat the oven. Heat to 425°F / 220°C. Set a wire rack on a baking sheet and spray it well with cooking spray (or lightly brush with oil).
Season the soak. In a shallow bowl, whisk together buttermilk and hot sauce. Add catfish fillets and let them sit while you prep the coating (about 5–10 minutes).
Mix the crispy coating. In another shallow bowl, combine flour, cornmeal, panko, paprika, garlic powder, onion powder, salt, pepper, and cayenne (if using).
Coat the fish. Lift a fillet from the buttermilk, let excess drip off, then press into the coating. Flip and press again so it’s fully covered. Repeat with all fillets.
Arrange for crispiness. Place fillets on the prepared rack with a little space between them. Spray the tops generously with cooking spray (this helps the “fried” effect).
Bake. Bake 10 minutes, then carefully flip the fillets. Spray the new top side lightly again.
Finish baking. Bake another 8–12 minutes, depending on thickness, until the coating is crisp and the fish flakes easily. If you use a thermometer, aim for 145°F / 63°C in the thickest part.
Serve. Squeeze lemon over the top and serve immediately while crunchy.