Place chicken pieces, chicken broth, cream cheese, red pepper and dry dressing mix in the Instand Pot. In that order, with the chicken on the bottom. Cook on manual for 15 minutes.
Once the manual cooking is complete, use the manual pressure release. Be sure not to get in the way of the escaping steam.
Remove chicken pieces and place in a seperate bowl. Shred using 2 forks. Once shredded, add back into the Instant Pot. Add remaining ingredients and mix thoroughly. Turn on the Instant Pot to saute for 10 minutes until all ingredients are warm. Be sure to mix the ingredients regularly while keeping warm so there is no sticking to the bottom of the pan!