Preheat oven to 325°F. Pat the roast dry. Season all over with salt and pepper.
Heat a large Dutch oven over medium-high. Add olive oil and sear roast until deeply browned, 4–5 minutes per side. Transfer to a plate.
Sauté onion in the drippings until softened and golden, 4–5 minutes. Stir in garlic and cook 30 seconds.
Add tomato paste. Cook, stirring, until it darkens slightly, about 1 minute.
Deglaze with red wine, scraping up browned bits. Simmer 2 minutes to reduce by about half.
Pour in beef broth and Worcestershire. Stir in thyme, rosemary, and smoked paprika. Bring to a strong simmer.
Return roast and any juices to the pot. Cover and braise in the oven for 2 hours.
Nestle potatoes and carrots around the meat. Spoon broth over. Cover and cook 60–75 minutes more, until fork-tender.
Transfer roast to a board and rest 10 minutes, tented with foil. Skim fat from the pot.
Whisk flour with cold water to make a smooth slurry. Simmer braising liquid and whisk in slurry until glossy and thick, 2–3 minutes. Adjust seasoning.
Slice or pull the beef. Serve with vegetables and gravy. Finish with parsley.