Seat glass pitcher on the base of the Instant Pot® Ace and add 2 1/2 cups of the corn, chicken stock, yellow onion, sugar, thyme, salt, white pepper, and onion powder.
Secure and lock lid.
Choose the Soup • program for chunky soup (20:00 minutes). Pause when 5 minutes are remaining.
Stir in cornstarch and water mixture, then add bell pepper and the remaining 1 cup of corn kernels.
Re-secure lid and continue cooking for the remaining 5 minutes.
Once program has completed, stir in heavy cream and serve topped with crumbled bacon, if desired.
Notes
Helpful Tip: For added freshness, try garnishing this with fresh thyme leaves, chopped parsley, sliced scallions, or chives. It is also great with diced ham in place of the crumbled bacon. Unlike the bacon, you don’t have to worry about it getting soggy, so feel free to add the ham in the last 5 minutes of the cook time.