Season the chicken thighs generously with salt, pepper, paprika, and thyme. Heat olive oil or butter in a large skillet over medium-high heat. Sear chicken skin-side down for 5-6 minutes until golden brown. Flip and cook for an additional 4-5 minutes. Remove chicken and set aside.

In the same skillet, reduce heat to medium and add chopped onion. Sauté for 3-4 minutes until translucent. Add minced garlic and cook for 30 seconds. Sprinkle in flour and stir well for roughly 1 minute.

Gradually whisk in chicken broth and heavy cream. Bring to a simmer, stirring continuously until gravy thickens, about 3-5 minutes. Adjust seasoning with salt and pepper as needed.

Return seared chicken to the skillet, ensuring it's nestled in the gravy. Cover and reduce heat to low, simmering for 10-12 minutes.

In a separate pot, bring water or chicken broth to a boil with a pinch of salt. Stir in the rice, cover, and reduce heat to low. Cook for about 15 minutes, or until tender.

Serve by ladling rice into bowls and topping with chicken and creamy gravy.