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