Preheat oven to 400°F. Drizzle 1 tablespoon olive oil into a large oven-safe pan. Set aside. Pat the fish dry and cut it into four equal 5-ounce portions. Season all sides lightly with salt and pepper.
Whisk together the mayo, mustard, and paprika until smooth. Spoon this mixture over the tops and sides of the fish fillets, but don’t apply it to the bottom. Try to use most of the mixture.
Combine the panko, Parmesan, thyme, garlic powder, ¼ teaspoon salt, and the remaining 2 tablespoons of oil in a bowl. Stir until well combined. Use your fingers to knead the mixture, if necessary. Then, sprinkle it evenly over the fish, pressing gently on the tops and sides. You should use most of the breading, but there may be a little leftover.
Heat the prepared pan on high until hot, about 2 minutes. Carefully transfer the fish to the pan, breading side up. Generously spray each piece with cooking spray. Immediately transfer the pan to the oven. Bake for 10–12 minutes, depending on the thickness of the cod. Move the pan to the top oven rack, approximately 5 inches from the heat source, and broil for 45 seconds or until the top is golden. Keep a close eye on it.
Remove from the oven and carefully take the fish out of the pan. Serve with fresh lemon wedges and enjoy immediately!
