Season the chicken breasts with salt, pepper, garlic powder, and onion powder on both sides.
In a large skillet, heat the olive oil over medium-high heat. Add the seasoned chicken breasts and cook for about 5-7 minutes on each side, until golden brown and cooked through. Remove the chicken from the skillet and set aside.
In the same skillet, add the sliced onion and sauté for about 3-4 minutes until softened. Add the minced garlic and cook for an additional 1 minute until fragrant.
Pour in the chicken broth and scrape up any browned bits from the bottom of the skillet. Stir in the heavy cream, thyme, and paprika. Bring the mixture to a simmer.
Return the chicken to the skillet, spooning the sauce over the top. Reduce the heat to low and let it simmer for about 10 minutes, allowing the flavors to meld.
If using, sprinkle the shredded cheddar cheese over the chicken and cover the skillet for a few minutes until the cheese is melted.
Garnish with chopped parsley before serving.
Notes
For a spicy kick, add a pinch of cayenne pepper or some sliced jalapeños to the onion mixture.
Substitute the heavy cream with coconut milk for a dairy-free option, and adjust the seasonings to taste.