Pat the chicken thighs completely dry with paper towels. Season both sides with garlic powder, onion powder, paprika, kosher salt, and black pepper.

Heat the olive oil in a cast iron skillet over medium heat until it shimmers.

Arrange the thighs skin-side down in the skillet. Cook undisturbed for 7 to 8 minutes until the skin is deep golden brown and releases easily.

Flip the thighs and cook another 10 to 12 minutes, or until an instant-read thermometer reads 165°F at the thickest part. Transfer the chicken to a plate and tent loosely with foil to rest.

Reduce the heat to medium-low. Add the butter to the same skillet, then sauté the minced shallot and garlic for about 1 minute, until fragrant and soft.

Pour in the chicken broth and lemon juice to deglaze the pan, scraping up browned bits. Add the thyme sprigs and crushed red pepper flakes.

Stir in the heavy cream and simmer gently for 5 to 6 minutes, until the sauce thickens enough to coat the back of a spoon.

Return the chicken to the skillet, spoon the sauce over each piece, and warm through for a minute or two. Garnish with chopped parsley and serve hot.