Heat olive oil in a large skillet over medium-high heat. Add the chicken breasts and cook for about 7 minutes on each side, until cooked through and golden brown.
Remove the chicken from the skillet and set aside. Melt butter in the same skillet over medium heat. Add minced garlic and sauté until fragrant, about 1 minute.
Stir in the ranch dressing, heavy cream, and black pepper. Cook while stirring for about 3 minutes until the sauce slightly thickens.
Add the cooked chicken back into the skillet, top with crumbled bacon, and shredded cheddar cheese. Cover and let the cheese melt for 2-3 minutes.
Garnish with chopped parsley and serve warm.
Notes
For a healthier version, substitute the heavy cream with half-and-half and reduce the amount of cheese.