In a medium saucepan, combine rice, water or broth, salt, and butter. Bring to a boil, reduce heat, cover, and simmer for 18–20 minutes or until rice is tender and liquid is absorbed. Remove from heat and let sit covered.

Season the shrimp with salt, pepper, and paprika.

Heat olive oil in a large skillet over medium-high heat. Add shrimp in a single layer and cook for 1–2 minutes per side, or until pink and opaque. Remove shrimp from skillet and set aside.

In the same skillet, reduce heat to medium. Add butter and garlic; sauté for 30 seconds until fragrant.

Pour in chicken broth and simmer for 2 minutes, scraping up any brown bits from the bottom.

Stir in heavy cream and Parmesan cheese. Simmer until sauce thickens slightly, about 3–5 minutes.

Add lemon juice, red pepper flakes (if using), and return shrimp to the skillet. Toss to coat and heat through.

Serve creamy garlic butter shrimp over warm rice. Garnish with parsley if desired.