Place the cut chicken in a large bowl and sprinkle with kosher salt, garlic powder, and onion powder. Toss to coat all the pieces evenly.
Add buttermilk and hot sauce to the bowl. Stir to combine, cover with plastic wrap, and marinate in the fridge for at least 2 hours, preferably overnight.
In a medium bowl, whisk together flour, cornstarch, kosher salt, paprika, and black pepper. Set aside.
Heat peanut oil in a deep fryer to 325°F. Adjust temperature to 300°F if necessary.
Allow excess buttermilk to drip off the chicken, then coat each piece thoroughly in the flour mixture. Shake off excess and let sit.
Carefully add chicken pieces to the hot oil in batches. Fry until golden brown, ensuring internal temperature reaches 165°F.
Transfer fried chicken to a paper towel-lined tray to drain excess oil. Optionally sprinkle with flaked salt before serving.