In a small bowl, season the chicken thighs or breasts with salt, black pepper, garlic powder, onion powder, and paprika. Heat olive oil in a large skillet over medium-high heat. Add the chicken and cook for 5-7 minutes per side until browned and cooked through. Remove chicken from skillet and set aside. In the same skillet, melt butter over medium heat. Add diced onion and cook until soft, about 3-4 minutes. Add minced garlic and cook for an additional 1 minute until fragrant. Pour in chicken broth and bring to a simmer. Stir in heavy cream, dried thyme, dried parsley, salt, and black pepper. Let the sauce simmer for 5 minutes. If the sauce needs thickening, mix cornstarch with water and stir into the sauce. Cook until thickened, about 2 minutes. Return the chicken to the skillet, spoon sauce over the top, and simmer on low heat for another 5 minutes to meld flavors. Meanwhile, rinse the rice under cold water until clear. In a medium pot, bring 3 cups of water or chicken broth to a boil. Add rice, reduce heat to low, cover, and cook for 18-20 minutes until rice is tender and liquid is absorbed. Fluff the rice with a fork and serve the creamy smothered chicken over the bed of rice.