Prepare the Chicken: Season both sides of the chicken breasts with garlic powder, onion powder, smoked paprika, salt, and black pepper.
Sear the Chicken: Heat olive oil in a large skillet over medium-high heat. Sear the chicken breasts for 4–5 minutes per side until golden brown. Remove from the skillet and set aside.
Cook the Rice: In a medium saucepan, bring chicken broth and salt to a boil. Add the rice, reduce heat to low, cover, and simmer for 15–18 minutes until the liquid is absorbed and rice is tender. Fluff with a fork and set aside.
Make the Creamy Sauce: In the same skillet used for the chicken, melt the butter over medium heat. Whisk in the flour and cook for 1–2 minutes until lightly golden.
Add Liquids & Cheese: Gradually whisk in milk and chicken broth to form a smooth sauce. Stir in garlic powder, thyme, cheddar cheese, and Parmesan cheese. Cook for 3–4 minutes, stirring often, until the sauce thickens and the cheese is fully melted.
Smother the Chicken: Return the seared chicken to the skillet. Spoon sauce over each piece, cover, and simmer on low heat for 10 minutes until the chicken is fully cooked and tender.
Serve: Plate the rice and top with smothered chicken and creamy sauce. Garnish with chopped parsley and serve immediately.