I was able to activate this option once in my MacOS intellij version, but could never find this option anymore, I forgot its name.
I know there is the CTRL+SHIFT+P alter
Adding to @Simulant answer.
In Latest Version of IntelliJ (2019.3.1) , You will NOT find this in Settings -> Editor -> General -> Appearance -> "Show parameter name hints"
Its available in Settings -> Editor -> Inlay Hints -> Kotlin -> "Show parameter hints"
Adding to @Simulant and @zero answers
In the latest version of IntelliJ (2020.3) you need to go to Settings -> Editor -> Inlay Hints
where you can specify "Show hints for" (for specific language) and then in Settings -> Editor -> Inlay Hints -> Kotlin -> Parameter hints -> Types
you can specify what type of hints you want.
Go to Settings -> Editor -> General -> Appearance -> "Show parameter name hints" -> Configure... -> Language: Kotlin -> Options -> "Show local variable type hints".
In newer Versions of IntelliJ (at least from 2019.3.1 onwards) it is located at: Settings -> Editor -> Inlay Hints -> Kotlin -> "Show parameter hints" (thanks to @zero).
I think you are allowed to say, that this feature configuration is a little bit hidden in the menues.