Season the chicken breasts with garlic powder, onion powder, paprika, salt, and pepper.
Heat olive oil in a large skillet over medium-high heat. Sear the chicken breasts until golden brown on both sides, about 3-4 minutes per side. Remove the chicken and set aside.
Add butter to the skillet, then sprinkle flour to make a roux, stirring constantly for 1-2 minutes.
Gradually stir in chicken broth and milk to create the gravy. Bring to a simmer and cook until thickened, about 5 minutes.
Return the chicken breasts to the skillet, reduce heat to low, cover, and simmer for 15-20 minutes until cooked through.
Notes
For an extra creamy gravy, ensure the roux is well-cooked before adding liquids. Leftovers can be refrigerated for up to 3 days.