Warm 500 ml whole milk in a saucepan over medium heat until steaming but not boiling.
In a mixing bowl, whisk together 4 egg yolks, 1 tsp vanilla bean paste, 100 g caster sugar, and 50 g cornflour until smooth and pale.
Slowly pour the hot milk into the egg mixture while whisking constantly to temper the eggs.
Return the mixture to the saucepan and cook over low heat, stirring constantly, until thickened to a smooth custard that coats the back of a spoon.
Remove from heat and stir in 50 g of the softened salted butter until fully melted and combined.
Press a piece of baking paper directly onto the surface of the custard and chill in the refrigerator until completely cold.
In a large bowl, beat the remaining 200 g softened salted butter until light and creamy.
Gradually add the chilled custard to the butter, a few spoonfuls at a time, beating until smooth and fully combined.
Add 150 g Nutella and beat or fold until the crème mousseline is smooth and homogeneous; refrigerate until firm enough to pipe.
For the choux pastry, combine 55 ml whole milk, 1/2 tsp caster sugar, 45 g unsalted butter, a pinch of salt, and 50 ml water in a saucepan.
Bring to a boil over medium heat, then remove from heat and add 65 g plain flour all at once.
Stir vigorously with a wooden spoon until the dough comes together in a ball and pulls away from the sides of the pan.
Return the pan to low heat and cook the dough, stirring constantly, for 2 to 3 minutes to dry it slightly, then remove from heat and let cool to lukewarm.
Transfer the dough to a mixing bowl and beat in 2 eggs, one at a time, mixing well after each addition until the dough is smooth, shiny, and pipeable.
Preheat the oven to 350°F and line a baking sheet with parchment paper.
Spoon the choux dough into a piping bag fitted with a large round tip.
Pipe three concentric rings of dough on the prepared baking sheet to form one large ring, with the rings touching each other.
Brush the top of the ring lightly with the beaten egg and sprinkle with 50 g roughly chopped hazelnuts.
Bake for 35 minutes, without opening the oven door, until puffed and deep golden brown.
Turn off the oven, prop the door open slightly, and let the choux ring cool completely inside the oven.
Once cool, carefully slice the choux ring horizontally into two equal layers using a serrated knife.
Transfer the Nutella crème mousseline to a piping bag fitted with a large star or round tip.
Pipe generous swirls or mounds of Nutella crème mousseline over the bottom half of the choux ring.
Gently place the top half of the choux ring back on, aligning it with the bottom.
Dust the assembled Nutella Paris-Brest with powdered sugar just before serving.
Refrigerate until serving time and keep chilled for up to 2 days.