Preheat oven to 350ºF and lightly grease a 9x13-inch baking dish with non-stick spray.
In a large bowl, whisk together the condensed cheddar soup, condensed herbed chicken soup, milk, garlic, onion powder, paprika, and red pepper flakes until fully combined. If desired, stir in the grated cheddar cheese.
Spread the cooked rice evenly on the bottom of the greased baking dish, then place the chicken thighs on top of the rice. Season the chicken with salt and pepper.
Pour the soup mixture over the chicken and rice, making sure everything is evenly coated. Sprinkle with additional grated cheddar cheese or bacon bits, if desired.
Bake the dish for 45-50 minutes or until the chicken is fully cooked through.
Remove from the oven and let it cool for a few minutes before serving. Enjoy!