Microwave the cream cheese until very soft. Cut into smaller pieces and set aside.
Slice the chicken breasts in half lengthwise to create 4 thinner cutlets. Season with garlic powder, salt, and black pepper.
Heat butter and olive oil in a large skillet over medium-high heat.
Add chicken and cook for 5-6 minutes per side until golden brown and cooked through to 165°F (74°C). Transfer chicken to a plate.
Reduce heat to medium and add chopped onions to the skillet. Sauté for 5-7 minutes until softened and lightly caramelized.
Stir in minced garlic and cook for 30 seconds until fragrant.
Add chicken broth, softened cream cheese, Italian seasoning, and crushed red pepper flakes. Stir continuously until the sauce becomes smooth and creamy.
Return the chicken to the skillet and spoon sauce over the top. Warm through for 2-3 minutes.
If needed, thin the sauce with an extra splash of chicken broth. Taste and adjust seasoning with additional salt and pepper.
Garnish with fresh parsley if desired and serve immediately.