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

Heat olive oil in a large skillet over medium-high heat. Sear the chicken for 4-5 minutes on each side until golden brown. Remove from the skillet and set aside.

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 tender and the liquid is absorbed. Fluff with a fork and set aside.

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.

Gradually add the milk and chicken broth, whisking constantly to create a smooth sauce. Stir in garlic powder, thyme, cheddar cheese, and Parmesan cheese. Cook for 3-4 minutes until the sauce thickens and the cheese is melted.

Return the chicken breasts to the skillet, spooning the creamy sauce over the top. Cover and simmer on low heat for 10 minutes until the chicken is fully cooked and tender.

Plate the cooked rice and top with the smothered chicken and sauce. Garnish with fresh parsley and serve immediately.