For cowboy butter, stir together softened butter, garlic, parsley, lemon zest, lemon juice, Dijon mustard, smoked paprika, black pepper, thyme, chili powder, and crushed red pepper in a small bowl until well combined. Cover and refrigerate for at least 2 hours.
Preheat the oven to 350 degrees F (175 degrees C).
Whisk together garlic powder, onion powder, smoked paprika, salt, and black pepper in a small bowl. Pat pork chops dry with paper towels and season both sides evenly with spice mixture.
Heat olive oil in a 12-inch cast-iron or oven-going skillet over medium-high heat. Add pork chops and cook until browned, about 3 minutes per side.
Transfer skillet to the preheated oven and roast until pork chops are browned and an instant-read thermometer inserted into the center reads 145 degrees F (63 degrees C), 14 to 17 minutes.
Or, preheat an outdoor grill to medium heat 350 to 375 degrees F (175 to 190 degrees C). Adjust for indirect grilling. Place chops on the grill rack over indirect heat. Cover grill and cook until chops are slightly pink in the center and an instant-read thermometer inserted into the center reads 145 degrees F (63 degrees C), 30 to 35 minutes, turning once.
Meanwhile, melt cowboy butter. Brush melted butter over both sides of pork chops. Cover with foil. Let pork chops rest for 5 minutes before serving. Serve with remaining Cowboy Butter. Recipe developed by Jaelyn Luong