Heat the olive oil in a large Dutch oven set over medium heat. Add the chorizo and cook, stirring occasionally, until it has rendered some of its fat and is lightly crisp around the edges, 4 to 5 minutes. Using a slotted spoon, transfer the chorizo to a plate, leaving the rendered fat in the pot.

Add the onion, celery, and carrot and cook, stirring occasionally, until softened, 6 to 8 minutes. Add the garlic and cook until fragrant, about 1 minute.

Add the tomato paste, smoked paprika, and red pepper flakes. Cook, stirring, until the tomato paste darkens slightly and begins to caramelize, about 2 minutes.

Pour in the wine and cook, scraping any browned bits from the bottom of the pot, until the wine has reduced by about half, 1 to 2 minutes.

Add the chicken broth, lentils, bay leaf, salt, and black pepper. Increase the heat to high and bring to a boil, 5 to 7 minutes, then reduce the heat to medium-low and simmer. Partially cover and cook, stirring occasionally, until the lentils are tender, 35 to 40 minutes. Add additional broth or water as needed if the soup becomes thicker than desired.

Return the chorizo to the pot along with the roasted red peppers. Simmer until warmed through and the flavors have melded, about 10 minutes.

Remove and discard the bay leaf. Stir in the sherry vinegar and parsley. Taste and season with additional salt, pepper, or sherry vinegar as desired.