Season chicken on both sides with salt and pepper.
In a skillet over medium-high heat, warm up the olive oil and butter. Add chicken and cook for 5-6 minutes per side until golden and cooked through. Remove from skillet and set aside.
Lower the heat to medium. Add minced garlic and sauté for about 30 seconds.
Pour in the chicken broth, stir, and bring to a simmer.
Whisk in the cream cheese until it melts and the sauce is smooth. Stir in the cheddar cheese if using.
Return chicken to the pan and coat it in the sauce. Let it simmer for 2-3 more minutes to soak up flavor.
Garnish with chopped parsley and serve hot over rice, pasta, or steamed vegetables.