Season chicken cutlets with salt and black pepper on both sides.
Prepare three shallow bowls for the breading station: one with flour, one with the egg whisked with water, and one containing the Panko, 1/2 cup Parmesan, garlic powder, and onion powder mixture.
Dredge each cutlet in flour, then egg wash, then the Parmesan-Panko mixture, pressing firmly to ensure an even coating.
Heat olive oil and butter in a large skillet over medium-high heat.
Fry the chicken for 4 to 5 minutes per side until the crust is golden brown and the internal temperature reaches 165°F (74°C). Remove chicken from the pan and set aside.
Reduce heat to medium. In the same skillet, add minced garlic and cook for 1 minute until fragrant.
Pour in the heavy cream and chicken broth, scraping the bottom of the pan to deglaze and incorporate the fond.
Stir in the 1/4 cup Parmesan cheese, oregano, and red pepper flakes. Simmer for 3 to 5 minutes until the sauce has thickened to a nappe consistency.
Return the chicken to the pan to coat or spoon the sauce directly over the cutlets. Garnish with fresh parsley before serving.