With a sharp knife, slice each chicken breast horizontally to create two thinner cutlets. Lay plastic wrap over the chicken and gently pound the thicker sections with a meat tenderizer or rolling pin until uniformly even. Season each piece with ½ teaspoon salt and ½ teaspoon black pepper. Arrange three shallow dishes for dredging. Combine flour with ½ teaspoon salt, ½ teaspoon black pepper, onion powder, and garlic powder in the first dish and stir to blend. In the second dish, whisk together the egg with a teaspoon of water until smooth. In the third dish, mix panko breadcrumbs with parmesan cheese, ½ teaspoon salt, Cajun or Italian seasoning, and paprika. Coat each chicken cutlet in the flour mixture, shaking off any excess, then dip into the egg wash ensuring full coverage. Finally, press the chicken into the breadcrumb mixture, coating both sides thoroughly and pressing lightly to adhere. Warm a large skillet over medium heat and add olive oil along with butter. Once heated, lay the chicken breasts into the skillet and fry for about 3–4 minutes per side. Adjust heat to medium-low if the pan becomes too hot, allowing the chicken to cook through without burning. When both sides are crisp and golden, and an internal temperature of 165°F is reached, transfer the chicken to a wire rack to maintain crispness. Serve immediately.