Season chicken on both sides with salt, pepper, garlic powder, and paprika.
Heat oil in a large skillet over medium heat.
Brown chicken on both sides until golden. Remove and set aside.
Add butter to the same skillet.
Add onions and cook until soft and lightly caramelized.
Stir in garlic and cook for 30 seconds.
Sprinkle flour over onions and stir well.
Slowly pour in chicken broth while stirring.
Add thyme and onion powder.
Return chicken to skillet.
Cover and simmer 25–30 minutes until chicken is tender.
Meanwhile, cook rice according to package instructions.
Serve chicken and gravy over rice.