Set Instant Pot to saute mode on High and add olive oil and bacon.
Cook for a few minutes until bacon crispy. Set aside half of the bacon on a plate.
Next, add garlic and onion, and sauce.
Add cubed chicken and cook until no longer pink and lightly browned.
Turn off/cancel sauce mode. Scrape with a wooden spoon any bits of meat off the bottom of the pot.
Sprinkle ranch seasoning packet on top of bacon and chicken and mix gently.
Cut cream cheese into cubes and place on top of the chicken mixture.
Add 1 cup of chicken broth.
Close lid and steam valve and set to high pressure for 5 minutes, followed by a quick release when done cooking.
Open the IP when the valve drops, stir well.
Add the frozen peas, then uncooked small egg noodles, and then the remaining chicken broth on top of the noodles.
Gently stir just a bit.
Close lid and steam valve and set to high pressure for 3 minutes, followed. by a. quick release when the IP beeps.
If you want the sauce thicker turn IP to saute again to reduce the liquid.
Add cheddar cheese on top and cover with the lid for 5 mins to melt.
Garnish with chopped green onion and serve.