Step 1: In a large skillet, heat 1 tablespoon of olive oil and 1 tablespoon of butter over medium-high heat until the butter is melted and shimmering.
Step 2: Season the cut chicken pieces with garlic powder, onion powder, smoked paprika, salt, and black pepper. Add the seasoned chicken to the hot skillet and cook for about 8-10 minutes, turning occasionally, until golden brown and cooked through. Remove the chicken from the skillet and set it aside on a plate.
Step 3: In the same skillet, melt the remaining 2 tablespoons of butter. Pour in the chicken broth and bring it to a gentle simmer, allowing it to reduce slightly for 2-3 minutes, scraping up any browned bits from the bottom of the pan.
Step 4: Stir in the heavy cream and grated Parmesan cheese. Continue to stir constantly until the sauce thickens and becomes smooth, which should take approximately 3-4 minutes.
Step 5: Return the cooked chicken pieces to the skillet. Gently toss them in the creamy sauce, allowing everything to simmer together for another 2-3 minutes so the chicken can absorb all the delicious flavors.
Step 6: Garnish generously with freshly chopped parsley and serve immediately with your favorite sides.