Heat the olive oil in a skillet over medium heat. Add the diced red bell pepper and onion. Cook for 5 minutes until softened. Stir in the minced garlic and cook for 1 minute more. Remove from heat and let cool slightly.
In a large bowl, combine the ground Italian sausage, cooled pepper mixture, breadcrumbs, egg, oregano, salt, and black pepper. Mix gently with your hands until just combined. Divide the mixture into 4 equal portions and shape each into a small loaf.
Place the mini meatloaves on a baking sheet. Bake at 375 degrees for 25 minutes until cooked through and lightly browned on top.
While the meatloaves bake, bring the chicken broth to a boil in a medium saucepan. Slowly whisk in the polenta. Reduce heat to low and cook for 5 minutes, stirring often. Remove from heat and stir in the butter and Parmesan cheese until smooth and creamy.
Serve each mini meatloaf over a scoop of the creamy polenta.