Bring a large pot of salted water to a boil over high heat. Add the medium pasta and cook according to package instructions until al dente, typically around 8-10 minutes. Drain the pasta in a colander and rinse it under cool running water to stop the cooking process.

In a large mixing bowl, combine the dressing ingredients: light olive oil, honey, lemon juice, dried oregano and thyme, and red pepper flakes. Add garlic powder, onion powder, salt, and pepper. Whisk until smooth and thoroughly mixed.

Add the cooled pasta to the bowl with the dressing. Gently toss until each piece is well-coated.

Carefully incorporate the cherry tomatoes, mozzarella pearls, mini pepperoni, baby arugula, and fresh basil. Toss gently to combine.

Cover the bowl tightly with plastic wrap or transfer to an airtight container. Refrigerate for at least 2 hours, or overnight, to let the flavors meld.