Season the beef. Place cubed sirloin in a large bowl. Whisk together the flour, salt, pepper, garlic powder, and onion powder in a small bowl. Sprinkle over the beef and toss until lightly coated on all sides.
Brown the beef. Heat oil in a Dutch oven or large skillet over medium-high heat. When the oil shimmers, add the beef in batches (don't overcrowd). Brown for about 1 minute per side, just until color develops. Transfer to a plate and set aside.
Deglaze the pot. Add the red wine to the drippings. Let it simmer for 1 to 2 minutes while scraping up any browned bits from the bottom of the pan.
Cook the vegetables. Reduce heat to medium. Add butter and onion; cook until tender, about 5 minutes. Add mushrooms and cook until softened, about 5 more minutes. Add garlic and cook 1 minute more.
Build the gravy. Stir in beef broth, soy sauce, Worcestershire sauce, thyme, and rosemary. Bring to a boil.
In a small bowl, whisk cornstarch and cold water. Gradually stir the slurry into the gravy until thickened.
Simmer the beef. Reduce heat to medium-low. Return the beef and any accumulated juices to the pot. Cover and simmer 10 to 15 minutes, stirring occasionally, until beef is cooked through.
Serve. Taste and season with additional salt and pepper if needed. Serve beef tips and gravy over hot cooked rice. Garnish with fresh herbs if desired.