Season both sides of the chicken breasts with garlic powder, onion powder, smoked paprika, salt, and black pepper.

In a large skillet over medium-high heat, add olive oil and cook the seasoned chicken breasts for about 5-7 minutes per side until golden brown and fully cooked. Remove from skillet and set aside.

In a separate saucepan, bring two cups of chicken broth and half a teaspoon of salt to a boil. Add one cup of rice, reduce heat to low, cover, and let simmer for about 15-20 minutes until tender. Fluff with a fork.

In the same skillet, melt two tablespoons of butter over medium heat. Sprinkle in two tablespoons of flour while whisking for about one or two minutes until it forms a roux.

Gradually pour in one and a half cups of whole milk and half a cup of chicken broth while whisking until smooth. Stir until thickened, then mix in garlic powder, thyme, cheddar cheese, and Parmesan cheese until melted.

Return the cooked chicken to the skillet and spoon the sauce over each piece, allowing flavors to mingle.

Spoon portions of the creamy chicken mixture over fluffy rice on each plate and garnish with freshly chopped parsley.