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Prep the chicken. Slice the chicken breast into 6 to 8 thin medallions. Lightly pound until about 1/2 inch thick and set aside.
Start the risotto. In a heavy bottom skillet, cook the pancetta over medium heat until browned and crisp, about 2 minutes. Add the garlic and cook until fragrant, about 30 seconds. Stir in the rice, letting it absorb the fat in the pan, and season with salt and white pepper. Deglaze with white wine and reduce heat to medium-low.
Stir in chicken stock. Once all the wine is absorbed add 1/2 cup of chicken stock to the rice, stir frequently until all the liquid is absorbed before adding another 1/2 cup of stock, this should take about 10 minutes before all the stock is absorbed. Repeat the process a total of 4 times, and reserve 1/2 cup of stock to finish the risotto after the chicken cooks.
Cook the asparagus. On the 4th addition of chicken stock, add the asparagus. Once the liquid is almost all the way absorbed, cover and remove from the heat. The heat and steam will cook the asparagus.
Cook the chicken. Dredge the chicken in flour on both sides. In a large heavy bottom skillet, melt the 4 tablespoons butter over medium heat. Cook the chicken on both sides until golden brown, about 3 to 5 minutes. Transfer the cooked chicken to a plate and reduce the heat to low.
Make the piccata sauce. Melt the remaining 4 tablespoons butter in the pan. Once the butter is melted, whisk in the lemon, salt, and pepper. When the sauce starts to thicken and bubble, add the chicken back to the pan. Sprinkle the capers over the chicken and toss with the sauce to combine. Layer pieces of the chicken on a plate and cover with any extra sauce and capers. (The chicken piccata can also be held in the pan until the risotto is finished.)
Finish the risotto. Heat the risotto over high heat. Add in the final 1/2 cup of warm chicken stock, lemon juice, butter, and parmesan chicken. Stir continuously until the final ingredients are combined and the risotto is thick and creamy. Because the heat is high, this step should only take 1 or 2 minutes. Serve alongside the chicken piccata.