Season the chicken thighs with salt, pepper, garlic powder, and onion powder.
In a large skillet, heat the olive oil over medium-high heat. Add the chicken thighs skin-side down and cook for about 5-7 minutes until golden brown. Flip and cook for another 5 minutes. Remove the chicken from the skillet and set aside.
In the same skillet, add the chopped onion and cook until softened, about 3-4 minutes. Add the minced garlic and cook for an additional minute.
Stir in the rice, chicken broth, heavy cream, paprika, and thyme. Bring to a simmer.
Return the chicken thighs to the skillet, skin-side up, and reduce the heat to low. Cover and cook for 25-30 minutes, or until the rice is tender and the chicken is cooked through.
In the last 5 minutes of cooking, add the frozen peas and stir gently to combine.
Once done, remove from heat and let it sit for 5 minutes before serving. Garnish with chopped parsley if desired.