Trim chicken breasts & cut into large pieces.
Arrange chicken in a single layer in the pressure cooker pot.
Sprinkle ranch seasoning on top of the chicken.
Place the block of cream cheese on top.
Add water or broth.
Cover & set on HIGH (manual pressure) for 15 minutes.
Natural release for 5 minutes & then quick release.
Transfer cooked the chicken to a medium bowl & shred by pulling with 2 forks.
Turn cooker on to SAUTE LOW & whisk until cream cheese is melted & sauce is creamy.
Add chicken back in, along with cooked bacon & cheese. Stir well.
Remove pot insert from the cooker.
Sprinkle with chives or parsley & serve.