Turn your Instant Pot to the "Sauté" function.
Add the 2 tablespoons unsalted butter and allow it to melt.
Add the diced 1 medium sweet onion and minced 4 cloves garlic . Sauté for 2-3 minutes, until softened and fragrant.
Add the diced 4 large Yukon potatoes to the pot.
Stir in the 1 teaspoon dried oregano, 1 teaspoon dried parsley, 1/2 teaspoon salt, and 1/2 teaspoon black pepper.
Add the 1/2 cup bacon bits for that delicious smoky flavor.
Pour in the 4-6 cups low sodium chicken broth, ensuring the potatoes are covered (you can add more if needed).
Stir everything together.
Close the Instant Pot lid and set the valve to "Sealing."
Select the "Pressure Cook" or "Manual" setting and cook on high pressure for 10 minutes.
Once the cooking time is complete, carefully perform a quick release by turning the valve to "Venting."
Open the Instant Pot lid and use a potato masher or immersion blender to mash the potatoes to your desired consistency. You can leave some chunks for texture or blend it smooth.
Stir in the h1 cup heavy cream and 4 ounces cream cheese (or sour cream). Mix until smooth and creamy.
In a small bowl, make a slurry by mixing the 2 tablespoons flour with a few tablespoons of broth from the Instant Pot.
Add the slurry to the soup and stir well. This will help thicken the soup.
Taste the soup and adjust seasoning if necessary with extra salt, pepper, or any other seasonings you prefer.
Ladle the soup into bowls.
Top with shredded 2 tablespoons cheddar cheese, 2 tablespoons real bacon bits, and fresh 2 teaspoons chives for that classic Panera touch.
Serve immediately and enjoy!