Cook the bowtie pasta in well-salted boiling water until the edges are tender and the thicker centers are al dente. Reserve 1/2 cup pasta water, then drain.
Season the chicken with Italian seasoning, garlic powder, salt, and black pepper.
Heat the olive oil and half the butter in a large skillet over medium-high heat.
Cook the chicken for 6–8 minutes until the pieces have golden-brown surfaces and lightly crisp edges and reach 165°F (74°C).
Add half the garlic during the last 30 seconds. Remove the chicken and keep warm.
Lower the heat and add the remaining butter and garlic. Cook for about 30 seconds.
Add the heavy cream and gently heat for 2 minutes.
Stir in the Velveeta until smooth, then add the Parmesan and mozzarella over low heat.
Fold in the bowtie pasta carefully until every piece is heavily coated and the sauce naturally settles into the folds. Add pasta water only as necessary.
Plate the creamy bowties beside the chicken and finish with parsley.