Cook the bacon: In a skillet, cook bacon until crisp. Drain on paper towels and crumble.
Set aside. Reserve a teaspoon of bacon fat if cooking on the stovetop.
Choose your method: You can make this in a slow cooker, Instant Pot, or on the stovetop. The steps are similar with slight tweaks below.
For slow cooker: Place chicken in the crock.
Sprinkle ranch seasoning, garlic powder, onion powder, paprika, salt, and pepper. Add chicken broth. Top with cream cheese cubes.
Cover and cook on Low for 4–5 hours or High for 2–3 hours, until chicken shreds easily.
For Instant Pot: Add chicken and broth to the pot. Sprinkle ranch and spices. Top with cream cheese.
Seal and cook on Manual/High for 12 minutes (thighs: 10 minutes). Quick release pressure.
For stovetop: Lightly season chicken. In a large skillet over medium heat, add a teaspoon bacon fat or oil.
Sear chicken 3–4 minutes per side. Lower heat, add broth, cover, and simmer 10–12 minutes until cooked through. Reduce heat to low and add cream cheese and ranch, stirring until creamy.
Shred the chicken: Transfer cooked chicken to a board and shred with two forks.
Return to the pot or skillet and stir to coat in the creamy sauce.
Add the cheese and bacon: Stir in shredded cheddar until melted and smooth. Fold in crumbled bacon and most of the green onions, saving some for garnish.
Taste and adjust: Add salt and pepper as needed. If the sauce is too thick, splash in a bit more broth.
If it’s too thin, let it simmer uncovered for a few minutes.
Serve: Top with remaining green onions. Enjoy over cauliflower rice, with roasted broccoli, in lettuce wraps, or spooned over zucchini noodles.