Season both sides of the chicken breasts with garlic powder, onion powder, smoked paprika, salt, and black pepper.
Cook the chicken in olive oil over medium-high heat for 5-7 minutes per side until golden brown and cooked through. Set aside.
Cook the rice in chicken broth with salt until tender, about 15-20 minutes.
Make a roux with butter and flour, then gradually add milk and chicken broth, whisking until smooth. Add garlic powder, thyme, cheddar, and Parmesan cheese, stirring until melted.
Return the chicken to the skillet, spoon the sauce over the top, and serve over rice. Garnish with chopped parsley.
Notes
For an extra burst of flavor, use fresh herbs like parsley or thyme for garnish.