In a large bowl, add diced bread and water. Stir and allow to soak for 5 minutes.
Add a parchment paper liner to air fryer or spray air fryer basket lightly with oil.
Add the remaining meatball ingredients to the bowl and mix until incorporated. Using a large cookie scoop or your hands, form 15 meatballs. Place them into the air fryer. Spray lightly with olive oil and air fry at 400°F for 7 minutes. Spray again and air fry for another 5 minutes, or until golden brown and cooked through.
While the meatballs are cooking, in a large skillet over medium heat, add the butter and shallots. Cook for about 2 minutes.
Pour in the pasta and chicken broth and increase heat to high. Bring to a simmer and cook for 7 minutes.
Add in the heavy cream, parmesan, parsley, and thyme. Stir well and return to a simmer for 2 minutes, or until pasta is al dente. Add the spinach and continue to stir until wilted.
Serve the chicken meatballs over the cheesy pasta. Garnish with parmesan cheese, cracked pepper, and fresh thyme and parsley.