01 -
Set Instant Pot to 'Sauté.' Cook bacon and olive oil, stirring occasionally, until bacon is crisp, about 8 minutes. Remove bacon with a slotted spoon onto paper towels, retaining fat in the pot.
02 -
Add chopped onion to the pot and cook, stirring occasionally, until softened, about 7 minutes. Stir in garlic and thyme and cook another minute until fragrant.
03 -
Add potatoes, chicken broth, and salt to the pot. Secure lid and set Instant Pot to 'Pressure Cook' on high for 8 minutes. Allow pressure to release slowly.
04 -
While pressure releases, whisk together flour and half-and-half in a small bowl to create a smooth slurry without lumps.
05 -
Remove lid and stir in slurry, sour cream, and black pepper. Blend soup with an immersion blender until mostly smooth, leaving some potato chunks; or blend half the soup in a standard blender and return it to the pot.
06 -
Set Instant Pot back to 'Sauté' and cook, stirring frequently, until soup thickens slightly, about 3 to 4 minutes.
07 -
Ladle soup into bowls and garnish with crispy bacon, additional sour cream, shredded cheddar, and chives.