Bring a large pot of salted water to a boil. Add the bowtie pasta and cook according to package directions until al dente. Reserve 1/2 cup of pasta water before draining.

Season chicken pieces with garlic powder, paprika, salt, and pepper. Heat a large skillet over medium heat and melt 2 tbsp butter with the olive oil. Add seasoned chicken and sauté for 6-8 minutes until golden brown and cooked through. Remove chicken from skillet and set aside.

In the same skillet, melt 3 tbsp butter. Add minced garlic and cook until fragrant, about 30 seconds. Pour in chicken broth and heavy cream, scraping bits from the bottom of the skillet. Stir in Parmesan and mozzarella (if using) until smooth and creamy. Adjust consistency with reserved pasta water if necessary.

Add the cooked pasta and chicken back to the skillet. Gently toss until well-coated in the creamy garlic sauce. Adjust seasoning with additional salt, pepper, or red pepper flakes if desired.

Plate the dish warm, garnishing with fresh parsley and additional Parmesan cheese.