Start by placing your chicken breasts with one cup of water in your Instant Pot®. Turn the valve to sealing, and cook on HIGH pressure for 10 minutes. Let it pressure release for about 10 minutes naturally, while you prepare other ingredients. Remove chicken, ensure it is cooked through, drain fat and water from Instant Pot®. Shred chicken with a fork and place back into your instant pot. Add hot sauce, cream cheese, cheese, ranch mix, and bacon. Stir until well combined. Place the lid back on to melt the cheese. If cheese did not melt enough to your liking place the lid back on and keep warm for another 3 minutes. Toast buns if you prefer. Serve and Enjoy!