In a small bowl, stir together the salt, paprika, garlic powder, onion powder, black pepper and cayenne pepper.
Place the flour in a wide, shallow dish.
Heat the olive oil and 1 tablespoon of butter in a large skillet, such as a cast iron skillet, over medium-high heat.
Pat the pork chops dry with paper towels. Rub the seasoning mixture over both sides of the pork chops. Dredge pork chops in the flour, coating both sides, and add them to the hot pan. (Cook in batches or use two pans if they won't all fit in the pan at once.)
Cook the pork chops for 2 minutes on each side to get a nice golden brown sear. Then reduce the heat to medium, flip and continue cooking for 5-10 more minutes per side, or until the pork chops register 145° F in the center when measured with an instant read thermometer. Be careful to not overcook them as this will dry them out. (If your pork chops are thin they will likely cook in less than 5 minutes per side.)
When the pork chops are almost cooked through, add the remaining 1 tablespoon of butter and the fresh thyme to the pan. Allow the butter to melt and then remove the pan from the heat. Spoon or brush the butter and thyme sauce over the pork chops.
Let pork chops rest for 5 minutes before slicing or serving.