In a heavy bottom saucepan, add chicken broth and heavy cream and bring to a boil. Pour in 1 cup of grits, reduce to a simmer and whisk to stir. Add a lid and cook for 15-20, whisking occasionally to keep the grits from clumping.
Pour the cooked, hot grits into a 8 X 8 baking pan or large dish, spreading them out evenly into a layer. Let them cool on the counter, then cover tightly and refrigerate until fully chilled. (this can even be done the day before making grit cakes)
Beat the eggs, seasoned salt, and milk together in one shallow bowl. Add the flour to another bowl, and the panko breadcrumbs to a third. Arrange these in a line—flour, egg, panko crumbs. Have a lightly floured plate ready for the breaded grit cakes.
Remove the chilled grits from the refrigerator and cut them into 6 squares. Carefully transfer each piece to the flour, coating lightly, then dip into the egg mixture, and finally coat with panko crumbs. Use a spoon or sprinkle with your fingers to gently cover the cakes with the panko crumbs to avoid breaking them.
Once they are all coated. Place then on parhment or wax paper on a tray or plate and put them in the freezer to keep firm while you heat the oil.
Preheat the oven to warm (200℉), or its lowest temperature. Place a wire rack on a rimmed baking sheet.
Heat a shallow layer of oil in a frying pan over medium-high heat. You will want the oil to come up about half way up the grit cake. When the oil is shimmering (test with a panko crumb),
Carefully place (slide off the spatula- you can use another spatula or a butter knife if you don’t want to risk touching th oil) the grit cakes into the oil. Fry for about 2 minutes until golden brown, then flip and fry the other side for another 2-3 minutes.
Transfer the fried grit cakes to a wire rack over a baking sheet and keep them on the warm setting in the oven while you finish frying the rest and are ready to serve.