Bring a large pot of lightly salted water to a boil. Add the penne pasta and cook until tender but still firm to the bite, about 11 minutes. Drain and set aside.
In a large skillet over medium-high heat, melt 1 tablespoon butter. Add the chicken pieces and cowboy butter seasoning. Cook for 6 to 8 minutes until the chicken is golden brown and fully cooked. Remove the chicken from the skillet and set aside.
In the same skillet, melt the remaining butter over medium heat. Stir in the heavy cream, Dijon mustard, lemon juice, lemon zest, onion powder, garlic powder, smoked paprika, red pepper flakes, black pepper, salt, and thyme leaves.
Simmer the sauce gently for 5 to 6 minutes, stirring frequently until slightly thickened.
Slowly stir in the Parmesan cheese until fully melted and smooth.
Return the chicken to the skillet and stir in the dried parsley.
Add the cooked pasta to the sauce and toss everything together until the pasta is fully coated. Let the Cowboy Butter Chicken Pasta cook on low heat for 2 to 3 more minutes.
Garnish with additional Parmesan cheese, parsley, and red pepper flakes before serving.