Heat the olive oil in a large pot over medium heat. Add the onion, carrots, and garlic, then cook until the onion turns soft.
Add the chicken pieces and cook until they lose their pink color on the outside. Stir in the thyme, salt, and pepper.
Pour in the chicken broth and add the diced potatoes. Bring the mixture to a simmer and cook for 15 minutes until the potatoes are tender.
Lower the heat and stir in the heavy cream along with the frozen peas. Simmer gently for 5 more minutes.
Remove the pot from the heat and stir in the grated Parmesan cheese until it melts into the broth.