Melt the butter in a small saucepan over low heat, 2–3 minutes, stirring occasionally; do not brown.
Whisk in the cayenne pepper hot sauce and garlic powder until smooth and emulsified, 1–2 minutes. Do not let the sauce boil.
Continue cooking over low heat, whisking, until the sauce looks glossy and lightly thickened and clings to the back of a spoon, 1–2 minutes.
Remove from heat and use warm to toss freshly cooked wings until evenly coated.
If not using immediately, cool to room temperature, transfer to a jar, and refrigerate up to 1 week. Rewarm gently over low heat, whisking, until fluid before tossing.