Start by making the polenta. Bring the 4 cups water to a boil and slowly add polenta, stirring continuously. Reduce heat to low and cook, covered, for 30 minutes, stirring every 5 minutes. After 30 minutes, remove pot from stove and stir in the butter and Parmesan cheese. Keep warm and set aside for now.
Meanwhile can make the mushroom topping. Sauté mushrooms and garlic on medium heat in olive oil until golden. Add thyme and slowly pour in heavy cream, stirring continuously. Bring to a boil and then reduce to low heat. Cook for about 5 minutes or until cream is thickened. Stir in Parmesan cheese, keep warm, and set aside for now.
Now, cook the scallops. Completely dry scallops with paper towels before placing them in a bowl and tossing with sea salt, paprika, and 2 tsp olive oil. Bring a pan to high heat without oil (since the scallops will already be coated with oil). Place scallops in a circle (to keep track of when to flip each) in the pan. Sear for about 3 minutes on each side.
Make plate by starting with polenta, adding scallops, and topping with the creamy mushrooms. Can serve with cherry tomatoes.