January 21, 2018 at 06:18 PM EST

Gwyneth Paltrow stepped out for the first time as a new bride-to-be!

The actress and Goop founder, 45, debuted her massive engagement ring at the Producers Guild Awards at the Beverly Hilton Hotel in Los Angeles on Saturday when she presented Ryan Murphy with the Norman Lear Achievement Award in Television.

Murphy is a frequent collaborator with Paltrow’s fiancé, Brad Falchuk, on series such as Glee, American Horror Story and 9-1-1.

Paltrow was a style standout in a red Alex Perry dress and Christian Louboutin shoes that coordinated with her eye-catching ring that features a gigantic center stone, which appeared black in the first photo she released announcing her engagement to Falchuk, but on closer examination, appears to be a deep, vivid blue.

Frazer Harrison/Getty Images

Earlier this month, she and Falchuk officially confirmed their engagement by announcing the news on the cover of Paltrow’s Goop Magazine‘s Sex & Love issue after dating for over three years.

In the magazine spread, Paltrow, who first met Falchuk during a guest appearance on Glee in 2010, revealed her new rock in a black-and-white portrait embracing her fiancé, whom she calls the “man I was meant to be with.”

“Personally, at midlife, I have tried to accept how complex romantic love can be,” she said on why she’s now ready to tie the knot with Falchuk. “I have decided to give it a go again, not only because I believe I have found the man I was meant to be with, but because I have accepted the soul-stretching, pattern-breaking opportunities that (terrifyingly) are made possible by intimacy.”

Paltrow was previously married to Coldplay’s Chris Martin for 11 years before “conscious uncoupling” in 2014. They share two children together: 13-year-old daughter Apple and 11-year-old son Moses.

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