In a small bowl, whisk together ketchup, honey, apple cider vinegar, soy sauce, Worcestershire sauce, smoked paprika, garlic powder, onion powder, and cayenne (if using). Set aside.
Pat the chicken thighs dry with paper towels. Season with smoked paprika, cumin, salt, and black pepper.
Heat olive oil in a large, oven-safe skillet over medium-high heat. Add the chicken thighs and sear for 3-4 minutes per side until golden. Remove and set aside.
In the same skillet, add onion and red bell pepper. Sauté for 3-4 minutes until softened. Add garlic and cook for 30 seconds until fragrant.
Stir in the rinsed rice, ensuring it’s coated with the oil and vegetables. Pour in the chicken broth and half of the BBQ sauce. Stir to combine.
Nestle the chicken thighs back into the skillet, spooning a bit of BBQ sauce over each piece. Bring the mixture to a simmer, then cover with a lid or foil. Bake at 375°F (190°C) for 25-30 minutes, or until the rice is tender and the chicken reaches an internal temperature of 165°F (74°C).
Remove from the oven, uncover, and brush the chicken with the remaining BBQ sauce. Broil for 2-3 minutes for a caramelized finish (optional). Garnish with fresh parsley and serve hot.