Dice the onion and gather all ingredients.
Add the onion, beans, Rotel, corn, and chicken broth to the Instant Pot. Stir in salt, black pepper, chili powder, garlic powder, ground cumin, and smoked paprika.
Place the chicken thighs on top of the mixture.
Close the lid, seal the vent, and cook on manual pressure for 15 minutes. Allow a natural release for 10 minutes.
Turn the Instant Pot to warm. Remove the chicken and add the sliced cream cheese so it can melt.
Shred the chicken while the cream cheese melts.
Return the shredded chicken to the Instant Pot and stir well. Add lime juice if desired and serve.