Add the olive oil to the pot. You can also use cooking spray. Turn the Instant Pot on the saute function.
Season the chicken breasts with the chicken seasoning.
Saute the chicken for 2 minutes on each side until the chicken turns white.
Add the potato chunks and chicken broth to the Instant Pot with the chicken breasts.
Put the lid on the pot and adjust the settings to the Manual 10 minutes.
When the pot beeps allow the Instant Pot to release steam on its own without quick release for 10 minutes.
Remove the chicken from the pot. Using two knives or a knife and fork, shred the chicken. Set aside. Drain the excess liquid from the pot.
Mash the potatoes with a hand mixer or a potato masher inside the pot.
Add the remaining ingredients and the chicken to the pot, except for the cheeses. Only add 1/2 cup of shredded cheese here. Season with paprika, chives, ranch seasoning, salt, and pepper to taste. Stir to combine all of the ingredients.
Preheat oven to 375 degrees.
Spray a baking pan with cooking spray. Add the mixture to the baking pan.
Top with the remaining cheese.
Bake for 15 minutes or until the cheese has melted.