Preheat and prepare: Preheat oven to 375°F (190°C). Lightly spray a 9x13 inch baking dish with nonstick cooking spray.
Season and sear chicken: Pat chicken breasts dry. Season both sides with 1 tsp salt and ½ tsp black pepper. Heat olive oil in large skillet over medium-high heat. Sear chicken 5 minutes per side until golden brown. Transfer to plate.
Sauté aromatics: In same skillet over medium heat, add chopped onion and cook 3 minutes. Add minced garlic and cook 1 minute more, stirring constantly.
Make the sauce: In mixing bowl, whisk together cream of mushroom soup, chicken broth, soy sauce, paprika, thyme, and remaining salt and pepper until smooth.
Assemble dish: Place seared chicken in prepared baking dish. Pour sauce mixture evenly over chicken, covering each piece generously.
Bake: Cover baking dish tightly with aluminum foil. Bake 30-35 minutes until chicken reaches internal temperature of 165°F. Let rest 5 minutes.
Serve: Prepare rice according to package directions if not already cooked. Divide rice among 4 plates, top each with chicken breast, and spoon sauce generously over top.