Season the chicken breasts with paprika, garlic powder, onion powder, salt, and black pepper on both sides.
In a large skillet, cook the chopped bacon over medium heat until crispy. Remove the bacon and set aside.
In the same skillet, add the seasoned chicken breasts. Cook for about 4-5 minutes on each side until golden brown and cooked through. Remove and set aside.
In the same skillet, add the diced onion and cook for 2-3 minutes until softened. Add minced garlic and sauté for another minute.
Sprinkle the flour over the onions and garlic, stirring constantly for about 1 minute. Gradually whisk in the chicken broth and bring to a gentle simmer.
Stir in the heavy cream and dried thyme, letting the mixture thicken slightly for about 2-3 minutes.
Return the cooked chicken to the skillet, spooning the gravy over each piece. Allow to simmer gently for an additional 5 minutes.
Garnish with the reserved crispy bacon and chopped parsley before serving.