Preheat your Dutch oven over medium heat.
Add the olive oil to the Dutch oven and heat until shimmering.
Add the onion and cook until softened, about 5 minutes.
Add the garlic and cook for 1 minute more, until fragrant.
Stir in the chicken broth, heavy cream, corn kernels, potatoes, thyme, smoked paprika, salt, and pepper.
Bring to a boil, then reduce heat and simmer, covered, for 30 minutes, or until the potatoes are tender.
Garnish with bacon and chopped fresh parsley, if desired.