Prepare the chicken by seasoning it with salt and pepper.
In a large skillet, melt the butter over medium heat.
Add the chicken thighs to the skillet and cook for 5-7 minutes on each side, or until golden brown and cooked through.
Remove the cooked chicken from the skillet and set aside.
In the same skillet, add the onions, bell peppers, and garlic; sauté until softened, about 3-4 minutes.
Sprinkle in paprika and thyme, stirring well to combine; cook for an additional minute.
Pour in the heavy cream, stirring until blended; let it simmer for 4-5 minutes until slightly thickened.
Return the chicken to the skillet, ensuring it is coated with the sauce; cook for another 2-3 minutes to heat through.
Adjust seasoning with salt and pepper as needed; then remove from heat and serve.