Heat a large heavy pot or deep skillet over medium heat. Add the olive oil.
Add the chicken pieces and sprinkle with ¾ teaspoon kosher salt and ½ teaspoon black pepper. Cook for 5 to 6 minutes, stirring occasionally, until lightly browned on several sides. The chicken does not need to be fully cooked at this point.
Transfer the chicken to a plate and set aside.
In the same pot, add the butter.
Add the diced onion and cook for 4 to 5 minutes until softened and lightly golden.
Add the minced garlic and cook for 30 seconds until fragrant.
Add the rice and stir for about 1 minute so it gets coated in the butter and onion mixture.
Pour in the chicken stock and heavy cream. Add the remaining ¾ teaspoon kosher salt, remaining ¼ teaspoon black pepper, Italian seasoning, paprika, onion powder, and crushed red pepper flakes. Stir once to combine.
Return the browned chicken to the pot and gently spread it through the rice.
Bring to a gentle simmer, then reduce heat to low. Cover and cook for 18 to 20 minutes until the rice is tender and the chicken is fully cooked.
Remove the lid and stir in the Parmesan cheese until melted and creamy.
Turn off the heat and let the pot sit uncovered for 5 minutes so the sauce thickens slightly.