In a large pot, melt the butter over medium heat. Add the diced onion and cook until translucent, about 5 minutes. Stir in the minced garlic and diced red bell pepper, cooking for an additional 3 minutes until softened.
Add the corn kernels to the pot and stir to combine. Cook for another 2 minutes.
Pour in the seafood stock or chicken broth, and bring the mixture to a simmer. Let it cook for about 10 minutes to allow the flavors to meld.
Add the shrimp to the pot, cooking until they turn pink and opaque, about 3-5 minutes.
Stir in the heavy cream, Old Bay seasoning, salt, and black pepper. Allow the bisque to heat through, but do not let it boil.
Taste and adjust seasoning as needed. Serve hot, garnished with fresh parsley.