Preheat oven to 350°F. Season chicken with 2 ½ teaspoons salt, hot paprika, and 1 teaspoon pepper. Place skin-side down in a large oven-proof skillet. Place over medium-high, and cook, without flipping, until skin is brown and crisped, 8 to 10 minutes. Transfer chicken skin-side up to a plate; set aside.
Add butter, onion, bell peppers, and garlic to skillet and cook, stirring often, until onion begins to soften, about 5 minutes. Stir in smoked paprika and flour and cook, stirring constantly, for 1 minute. Stir in wine and cook, stirring constantly, until thickened, about 1 minute. Stir in water, bay leaf, thyme leaves, remaining 1 ½ teaspoons salt, and remaining ½ teaspoon pepper. Bring to a boil over medium-high. Add chicken, skin-side up.
Bake, uncovered, until slightly reduced and a meat thermometer inserted in chicken registers 165°F, about 30 minutes. Transfer chicken to a plate. Stir ¼ cup sauce from skillet into a small bowl with the sour cream. Stir sour cream mixture slowly into skillet. Return chicken to skillet. Serve with cooked egg noodles. Garnish with more thyme leaves, if desired.