Heat gas or charcoal grill. Cut 18x12-inch sheet of heavy-duty foil. Place potatoes and carrots on center of foil sheet. Drizzle with butter. Sprinkle with Italian seasoning, peppered seasoned salt and cheese; stir slightly to mix and coat vegetables. Bring up 2 sides of foil so edges meet. Seal edges, making tight 1/2-inch fold; fold again, allowing space for heat circulation and expansion.