Melt the butter in a small saucepan over medium-low heat until it is foamy but not browned, about 5 minutes. Bring a small saucepan of water to a boil. Reduce the heat to medium-low and using the double boiler method, set a small bowl on top of the saucepan (the bottom of the bowl should not touch the water). To the bowl, add the egg yolks, 2 tablespoons of hot water, the lemon juice, salt, and adobo sauce, and whisk until foamy and just starting to thicken, about 5 minutes.
Slowly add the melted butter a little bit at a time and whisk the sauce until it is smooth. Turn off the heat and cover the bowl with plastic wrap. Let the sauce stand over the warm water for up to 30 minutes before serving.
Note: If the sauce thickens too much or starts to separate, whisk hot water a teaspoon at a time until it is comes back together or thins out. Don't reheat the sauce over direct heat in a saucepan, it will separate.
Combine the oregano and the paprika in a small bowl and rub the herb mixture into the Canadian bacon. Heat a medium nonstick skillet over medium heat and add the seasoned bacon slices Cook until their edges begin to turn golden brown, about 3 minutes on each side.
Warm the arepas in a large skillet over medium-high heat 10 to 15 seconds on each side until they're heated through.
For the eggs:
Fill a large skillet with 1 1/2 inches of water. Add the vinegar and bring the liquid to a gentle simmer over medium-high heat. Reduce the heat to medium. One at a time, crack the eggs into a ramekin or small bowl and gently slide them into the hot water. Poach the eggs until the whites are set and the yolks are still runny, about 2 to 3 minutes. Use a slotted spoon to remove them from the water and place them on a paper towel-lined plate to drain off excess water.
To assemble, place a warm arepa on each serving plate. Top with a slice of the Canadian bacon and a poached egg. Spoon some of the chipotle hollandaise over the egg and sprinkle with the chopped parsley. Serve immediately.