Heat oil in a deep fryer or heavy-bottomed pot to 350ºF.
Brown the sausage over medium-high heat, breaking up any large clumps. Drain on paper towels and allow to cool completely.
Once cooled, transfer the sausage and Fontina cheese to the bowl of a food processor fitted with the S blade. Pulse to combine.
Stuff each olive with some of the sausage and cheese mixture.
Set up a breading station by combining the flour, cumin, and garlic powder in one bowl. Whisk together the eggs and water in another bowl. Pour the breadcrumbs into a third bowl.
To bread the olives: Roll olives in batches in the seasoned flour, shaking off any excess. Gently roll each olive in the egg wash to cover, then roll in the breadcrumbs, pressing to make sure they adhere.
Fry the olives in batches until golden brown and drain on paper towels. Serve hot.