Season the chicken breasts with salt, pepper, and paprika. Heat olive oil in a large skillet over medium heat. Add the chicken and sear on both sides until golden brown, about 3-4 minutes per side. Remove the chicken and set aside. In the same skillet, add the chopped onion and cook for 2-3 minutes until softened. Add the garlic and cook for another minute. Pour in the chicken broth and use a spatula to scrape up any browned bits from the bottom of the pan. Stir in the heavy cream, thyme, and a pinch of paprika, then bring the mixture to a gentle simmer. Return the chicken to the skillet, cover, and cook on low heat for 20-25 minutes, or until the chicken is cooked through. Stir in the shredded cheese, if using, and let it melt into the sauce. Serve the smothered chicken over cooked rice, spooning extra sauce on top. Garnish with fresh parsley before serving.