Season the chicken breasts with salt, pepper, garlic powder, and onion powder.
Heat olive oil in a large skillet over medium heat and cook the chicken for about 5 minutes per side until golden brown. Remove from the skillet and set aside.
In the same skillet, sauté the diced onion and minced garlic until fragrant and soft.
Pour in the chicken broth and heavy cream, stirring well to combine.
Sprinkle in paprika and stir, then return the chicken to the skillet.
Cover and simmer on low heat for 15 minutes until the chicken is fully cooked.
Stir in the shredded cheddar cheese and cooked rice, mixing until creamy and well combined.
Garnish with chopped parsley and serve hot.