Season chicken with salt, pepper, and paprika. Set aside.
Turn Instant Pot on 'Sauté'. Melt 1 tablespoon of butter. Add chicken and sear each side for 2-3 minutes. Remove chicken and keep warm.
Add remaining butter and minced garlic. Cook until fragrant (about 1 minute). Whisk in cream of chicken soup and water.
Add chicken and broccoli to the Instant Pot. Close lid and pressure cook on high for 10 minutes.
Release pressure using quick-release method.
Remove chicken, shred, and return to soup. Stir well.
Garnish with optional cheddar cheese before serving.