Begin by placing the chicken thighs in a slow cooker or Instant Pot. Season with ranch dressing mix, garlic powder, onion powder, salt, and pepper.
Add the softened cream cheese evenly over the top of the chicken.
If using a slow cooker, cover and cook on low for 6-7 hours or high for 3-4 hours until chicken is tender and easily shredded. If using an Instant Pot, seal the lid and cook on high pressure for 15 minutes, then allow for a natural release.
Once cooked, shred the chicken using two forks and mix the cream cheese into the chicken until fully combined.
Stir in the shredded cheddar cheese and bacon bits (if using) until melted and thoroughly mixed.
Finally, fold in most of the chopped green onions, reserving some for garnish.
Notes
Serve warm in bowls, topped with remaining green onions and extra cheese if desired. This dish goes well with a side of steamed broccoli or cauliflower for a complete meal.