In a dutch oven over medium heat, cook the bacon until crispy, 15-20 minutes stirring occasionally. Take the bacon out, reserving the bacon drippings in the pot, and place the cooked bacon on a paper-towel-lined plate.
Add the onion to the pot and cook until softened and translucent, about 10 minutes, stirring occasionally. Add the garlic and cook for 30 seconds until fragrant.
Add the seasoned salt, garlic powder, onion powder, thyme, pepper, and cayenne to the pot. Stir it in and cook for 30 seconds.
Add the peas, chicken stock, and bay leaves to the pot, and stir it together. Bring to a boil, reduce to a simmer, and simmer, covered, for 60-90 minutes, stirring occasionally. They are done when the peas are tender.
Add the butter and stir it in to melt, taste, and adjust seasoning if necessary. Serve with the crispy bacon on top and fresh parsley if desired.