01 - In a large bowl, whisk together buttermilk, salt, ground black pepper, garlic powder, and smoked paprika. Add the chicken pieces and turn to coat evenly. Cover and refrigerate for at least 30 minutes or up to overnight for enhanced flavor.
02 - Set the oven to 425°F. Line a baking sheet with parchment paper and place a wire rack on top to allow air circulation during cooking.
03 - In a shallow dish, combine panko breadcrumbs, all-purpose flour, onion powder, dried thyme, cayenne pepper if using, salt, and ground black pepper.
04 - Remove the chicken from the marinade and let excess drip off. Dredge each piece thoroughly in the breadcrumb mixture, pressing to adhere.
05 - Place chicken skin-side up on the prepared wire rack. Drizzle olive oil evenly on top to promote a crispy crust.
06 - Bake for 35 to 40 minutes until the crust is golden brown and the internal temperature reaches 165°F. Allow the chicken to rest for 5 minutes before serving.