In a large pot, heat 2 tablespoons of butter over medium heat until melted. Add the diced onion and sauté for 3-4 minutes until softened and translucent, stirring occasionally.

Stir in the minced garlic and cook for an additional 1-2 minutes, allowing it to become fragrant.

Pour in 4 cups of chicken broth, scraping up any browned bits from the bottom of the pot. Increase the heat to bring the mixture to a gentle simmer.

Stir in 1 cup of heavy cream and return the soup to a simmer for about 5 minutes.

Fold in 2 cups of shredded cooked chicken, ensuring it's evenly distributed throughout the soup.

Sprinkle in the ranch seasoning mix, onion powder, garlic powder, dried thyme, paprika, and black pepper. Stir to combine thoroughly.

Add 2 tablespoons of butter into the mixture, stirring until completely melted.

Add 1 cup of shredded cheddar cheese and 4 ounces of cream cheese to the pot. Stir continuously until both cheeses have melted.

Fold in 1 cup of crumbled cooked bacon, mixing until evenly distributed.

Stir in 2 chopped green onions and allow the soup to simmer briefly for another 5 minutes.

Ladle the hot soup into bowls and garnish with additional green onions or crispy bacon bits if desired.