Place uncooked, chopped bacon into a 6 quart Instant Pot, then hit SAUTE.
Cook, stirring regularly, until the bacon is crispy, then remove the bacon with a slotted spoon, leaving the bacon grease in the Instant Pot. Set the cooked bacon aside.
Add in onion, carrots, celery, and garlic and cook, stirring regularly, for 10 minutes.
Hit CANCEL on the Instant Pot, then stir in chicken broth, scrapping up any brown bits that may have stuck to the bottom. This helps to avoid a BURN notice.
Stir in chicken thighs and potatoes (they should be submerged) then sprinkle with garlic powder, basil, paprika, salt, and pepper - do not stir, this helps avoid a BURN notice.
Cover and lock the lid, be sure the pressure valve is pointed toward SEALING, then cook on HIGH pressure for 10 minutes.
Once the cook time is up, allow the IP to naturally release for 5 minutes before flipping the pressure valve to relieve any remaining pressure.
Remove chicken, set aside for a few minutes, then shred or cube into bite sized pieces.
In a small bowl, whisk together flour and heavy cream until smooth, then slowly whisk that mixture into the IP.
Stir in the frozen peas and chicken, then hit SAUTE on the IP.
Bring to a simmer, then simmer until thickened to your liking.
Taste and re-season, if necessary, spoon into bowls, then top with cooked pie crust or air fryer biscuits and enjoy!
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