To cook chicken, combine both ingredients in your Instant Pot, seal, cook for 15 minutes on high pressure. Do a quick release.
Pour out onto a cutting board and shred or dice.
Rinse/dry out your basin, then start steps to make buffalo dip.
Let your cream cheese come to room temperature, then cube it.
Combine cream cheese, sour cream, wing sauce, taco seasoning, chicken, and water in your Instant Pot.
Seal the lid, and set for 5 minutes on high pressure.
Vent, open the lid, and sprinkle in your cheese.
Stir thoroughly so that cheese is incorporated, then serve with chips, veggies, or pretzels.