Heat olive oil in a large skillet over medium-high heat.
Add ground beef, salt, and black pepper. Cook, breaking up the meat with a spoon, until browned and cooked through, about 6-8 minutes.
Remove the cooked beef from the skillet and set aside. Drain excess fat if necessary, leaving about 1 tablespoon in the skillet.
Reduce heat to medium and add butter to the skillet. Once melted, add minced garlic and chopped onion. Sauté until fragrant and onions are translucent, about 3-4 minutes.
Add the rinsed rice to the skillet and stir to coat the rice in the garlic butter and onions. Cook for 1-2 minutes to lightly toast the rice.
Pour in the beef broth, then add dried thyme and paprika. Stir well to combine.
Return the cooked ground beef to the skillet and stir to distribute evenly.
Bring the mixture to a boil, then reduce heat to low, cover the skillet with a lid, and simmer for 15 minutes or until the rice is tender and liquid is absorbed.
Remove the lid and gently stir in the thawed peas. Cook uncovered for an additional 2-3 minutes until peas are heated through.
Sprinkle chopped fresh parsley over the skillet and serve hot.