Cut the bacon into 1" pieces (the thicker the bacon the better).
Clean, scrub & rinse the baby potatoes. Slice the potatoes in half.
Set to sauté high. Add cut bacon and cook for 7-10 minutes or until crispy. Transfer the bacon bits and place them on a paper towel (to remove excess oil). Set aside until ready to cook. Drain the bacon grease from the IP.
Add baby potatoes, salt, pepper, paprika, onion & garlic to the cooker. Mix everything together.
Place the lid on. Pressure cook on high for 8 minutes and do a quick release (exercise caution when releasing pressure from the cooker). Follow the manufacture instructions for releasing the pressure. Remove the lid.
Add 1 cup of shredded cheese and gently fold/mix until the cheese has melted (recommend using a wooden spoon). Repeat with the remaining ½ cup of cheese.
Add sour cream, cooked bacon and gently fold/mix until everything is well coated (until sauce has become uniform and consistent).
Top with chopped green onions.