I did the same thing (cloning) on my laptop 40 GB disk to 250 GB disk using Apricorn's cloning disk and the cloning software did the formatting of the 250 GB disk and then cloned it.
Later, I repeated this for my desktop. Cloned from 40 GB to 80 GB.
In both instances, the full capacity of the drives were displayed and available.
In your case, if the Paragon software did the cloning, it also should have formatted the new disk to the new disk's capacity (500 GB). Without formatting, how is it possible to write anything to it?
Check by using the Control Panel ---> Administrative Tool ---> Computer Management ---> Storage ---> Disk Management