Whisk soup mixture:
Combine 1/2 cup milk, 1 can (10 oz) cream of chicken soup, and 1 packet ranch seasoning in a bowl, whisking until smooth.Add water to pot:
Pour 1/2 cup water into the Instant Pot base.Layer chicken and veggies:
Add 4 chicken breasts, 4 peeled and chopped potatoes, and 2 cups baby carrots to the pot.Drizzle soup mixture:
Drizzle the soup mixture evenly over the ingredients.Pressure cook 20 minutes:
Lock the lid, set to high pressure for 20 minutes, then perform a quick release.Plate and ladle sauce:
Plate the chicken, potatoes, and carrots, then ladle the sauce on top.