Rinse and scrub potatoes to remove any visible dirt and then cut into 1-inch chunks.
Add bacon to a 6-quart Instant Pot set to the saute function and cook for 6-8 minutes, or until crispy.
Remove bacon using a slotted spoon and keep the remaining bacon fat in the pot. Let the bacon pieces drain on a paper towel lined plate.
Add butter, onion and celery and saute for 2-3 minutes. Add garlic and continue sauteing for an additional 30 seconds, or until fragrant.
Pour in the broth and then add the dried herbs, salt, and pepper. Scrape the bottom of the pot to release any bits or pieces that might be stuck.
Add the peeled and cubed potatoes to the pot and submerge them as far into the liquid as possible.
Using the manual function, set the Instant Pot to high pressure and the timer to 10 minutes. Quick release the pressure as soon as the timer goes off.
While the soup is cooking, whisk together warmed milk and cornstarch in a medium-sized bowl to make a slurry.
Once the soup has cooked, pour in the slurry, give it a good stir, and then puree the soup using an immersion blender until smooth. Alternatively, you can carefully transfer the hot soup to either a food processor or high speed blender and blend until smooth.
Serve the soup with all of your favorite baked potato toppings: shredded cheese, sour cream, green onions, and those reserved bacon pieces. Enjoy!