Preheat your oven to 400 degrees Fahrenheit. In a pie plate or a small rimmed baking sheet, combine the panko breadcrumbs, grated Parmesan cheese, 1/4 teaspoon of the kosher salt, 1/4 teaspoon of the black pepper, smoked paprika, 1/4 teaspoon cayenne pepper, and 1/4 teaspoon onion powder. In a separate shallow bowl, whisk together the eggs and hot sauce.

Slice each chicken breast in half horizontally to create 4 thin cutlets. Place one cutlet at a time inside a large zip-top bag and pound with a rolling pin or the flat side of a meat mallet until about 1/4-inch thick.

Season the chicken pieces with the remaining 3/4 teaspoon kosher salt and 1/4 teaspoon black pepper. Dredge each cutlet first in the egg mixture, letting any excess drip off, then press firmly into the panko mixture until fully coated. Arrange the breaded cutlets on a rimmed baking sheet.

Bake the chicken for 30 minutes, flipping halfway through, until golden brown and cooked through (the internal temperature should reach 165 degrees Fahrenheit).

About 5 minutes before the chicken is done, combine the honey, unsalted butter, minced garlic, 1 teaspoon cayenne pepper, 1/2 teaspoon onion powder, and a pinch of kosher salt in a small skillet over medium heat. Cook, stirring occasionally, until the mixture comes to a simmer and is bubbling and fragrant, about 2 minutes. Remove from heat.

Working with one piece of chicken at a time, dip it into the hot honey sauce until fully coated, then transfer to a serving plate. Spoon any remaining sauce over the top (the pan will be sticky, so wash it promptly). Garnish with fresh thyme and flaky salt, if desired.