In a large bowl, combine ground chicken, egg, panko, grated Parmesan, Italian seasoning, garlic powder, onion powder, and black pepper; mix gently until just combined. The mixture will be wet.
Form the mixture into 1-inch meatballs (about 30) and place them on a parchment-lined baking sheet.
Microwave the softened cream cheese in a microwave-safe bowl in 20–30 second intervals until very soft, then cut into smaller pieces.
Heat 1 tablespoon olive oil in a skillet over medium-high heat. Fry meatballs in a single layer, turning often, until browned on all sides, about 5 minutes per batch; add remaining oil if needed and transfer browned meatballs to a plate.
If excess oil remains, drain some but keep the browned bits in the skillet. Reduce heat briefly if the pan is very hot.
Add chicken broth, ranch seasoning, minced garlic, and the softened cream cheese to the skillet. Cook over medium heat, whisking or stirring often, until the cream cheese melts into a smooth sauce; add a splash more broth or water if the sauce becomes too thick.
Return the browned meatballs to the skillet and simmer for about 5 minutes, stirring occasionally, until meatballs reach 165°F and are cooked through. Stir in chopped parsley and serve immediately.