Preheat your oven to 350°F (175°C). Grease a 9x13-inch baking pan.

In a large bowl, combine the butter pecan cake mix, water, oil, and eggs. Beat on medium speed for about 2 minutes until well combined. Pour the batter into the prepared baking pan and smooth the top.

Bake for 30-35 minutes or until a toothpick inserted into the center comes out clean.

While the cake is baking, toast the pecans in a dry skillet over medium heat until they are fragrant, about 5 minutes.

In a medium bowl, combine the sweetened condensed milk, melted butter, and toasted pecans. Once the cake is done baking, remove it from the oven and let it cool for about 10 minutes.

Use the handle of a wooden spoon to poke holes all over the cake, about 1 inch apart. Pour the butter pecan filling over the cake, making sure it seeps into the holes.

Once the cake is completely cool, spread the whipped topping evenly over the top.

Drizzle with caramel sauce. Sprinkle with toasted pecans.

Refrigerate for at least 1 hour before serving to allow the flavors to meld.