Add 1 cup water to the bottom of your Instant Pot Insert. Add the steam rack and carefully place the eggs into the insert. Eggs can be placed in more than 1 layer.
Cook on High Pressure, Manual for 6 or 7 minutes. (6 minutes for soft-boiled, 7 minutes for hard-boiled.)
Let naturally release for at least 10 minutes, remove from insert and place in bowl with cold water for at least 20 minutes. Then peel.
Slice in half, remove the egg yolks and place into small mixing bowl. Stir the Ranch dressing into the egg yolks. Spoon or pipe the eggs back in the egg whites. Garnish with crumbled bacon.
Keep chilled and covered, and serve within 2 days.