In a large skillet over medium-high heat, add bacon and saute for 1 minute. Add chicken and cook until almost no pink on the outside, stirring often. Add garlic and cook for another minute. Pour in white wine and cook until mostly evaporated, about 4 minutes.
Stir in flour, smoked paprika and cayenne pepper and cook for 1 minute. Add chicken stock and heavy cream. Bring to a boil and reduce to a simmer until the sauce is reduced and thickened, about 20 minutes. Stir in sugar and lemon juice. Season with salt and pepper if needed.
Transfer the chicken to serving plates with hot steamed rice and lemon wedges. Sprinkle with chopped parsley if using. Serve immediately.