Preheat your oven to 400°F (200°C).
In a large bowl, combine the ranch seasoning mix, garlic powder, onion powder, black pepper, salt, and paprika.
Add the olive oil and sour cream to the bowl, mixing until well combined.
Coat the chicken thighs thoroughly with the ranch mixture, ensuring they are evenly covered.
Place the coated chicken thighs in a baking dish, skin side up.
Sprinkle the shredded cheddar cheese evenly over the top of the chicken thighs.
Bake in the preheated oven for 35-40 minutes, or until the chicken reaches an internal temperature of 165°F (74°C) and the skin is crispy.
Let the chicken rest for 5 minutes before serving.