Pat the chicken thighs dry with paper towels, pressing firmly to ensure they are completely moisture-free.

In a small bowl, combine garlic powder, onion powder, paprika, salt, and freshly ground black pepper. Generously rub this seasoning mixture over both the skin and underside of each chicken thigh.

Heat the olive oil in a 12-inch cast iron skillet over medium heat. Add the chicken thighs skin-side down into the skillet without crowding them. Cook undisturbed for about 7-8 minutes until the skin turns a deep golden brown.

Flip the chicken thighs and cook for another 10-12 minutes, or until the internal temperature reaches 165°F.

Transfer the cooked thighs to a plate and tent with foil to keep warm.

In the same skillet, reduce heat to medium and melt the butter. Add the minced shallot and garlic; sauté for about a minute until fragrant.

Pour in the chicken broth and lemon juice, adding the thyme sprigs and crushed red pepper flakes. Scrape up any browned bits from the bottom of the pan.

Lower the heat and stir in heavy cream, simmering for 5-6 minutes until the sauce thickens. If the sauce appears too thin, let it simmer longer, stirring occasionally.

Return the chicken to the skillet along with accumulated juices, spooning the cream sauce over each piece. Garnish with parsley before serving hot.