Heat olive oil in a large skillet over medium-high heat. Season chicken breasts with salt, black pepper, garlic powder, and onion powder. Cook chicken for 5-7 minutes on each side until golden brown. Remove and set aside.
In the same skillet, add rice and stir for 1-2 minutes until lightly toasted. Pour in chicken broth and bring to a boil. Reduce heat, cover, and simmer for 15 minutes.
Stir in heavy cream, frozen mixed vegetables, and dried thyme. Mix well.
Return chicken to the skillet, nestling into the rice mixture. Sprinkle Parmesan cheese on top.
Cover and cook on low heat for an additional 10 minutes. Remove from heat and let sit for 5 minutes before serving. Garnish with parsley.