Make the brine by combining water, kosher salt, brown sugar, peppercorns, garlic, rosemary, and bay leaves in a saucepan. Heat until dissolved, then cool completely with ice water.
Place the pork chops in the cold brine and refrigerate for 4–8 hours. Do not exceed 12 hours.
Remove the chops from the brine and pat completely dry with paper towels.
Smoke the pork chops at 225°F over applewood or cherry wood for about 45 minutes. Skip this step if you don't have a smoker.
Mix brown sugar, smoked paprika, and garlic powder. Coat both sides of the pork chops evenly and season lightly with salt and pepper.
Heat a cast iron skillet over high heat. Add oil and sear the pork chops for 3–4 minutes per side until a deep caramelized crust forms.
Add butter and thyme to the skillet. Baste the pork chops continuously for 1–2 minutes.
Transfer the skillet to a 400°F oven and cook until the internal temperature reaches 145°F.
Let the pork chops rest for 5 minutes before serving.
Top with compound butter and serve immediately.