In a large skillet or deep pan, cook the chopped bacon over medium heat until crispy. Remove and set aside on a paper towel-lined plate. Discard most of the bacon grease, leaving about 1 tablespoon in the pan.
Add diced chicken to the pan, season with a little salt and pepper, and cook until golden brown and cooked through, about 5–6 minutes. Add minced garlic and sauté for another 30 seconds.
Add the softened cream cheese to the pan with the chicken and stir until melted and creamy. Pour in the chicken broth, milk, and ranch seasoning. Stir to combine into a smooth sauce.
Add the uncooked penne directly into the sauce. Bring to a gentle boil, then reduce the heat to low. Cover and simmer for 10–12 minutes, stirring occasionally, until the pasta is tender and the sauce has thickened.
Once the pasta is fully cooked, stir in the shredded cheddar cheese and most of the cooked bacon (reserving some for topping). Mix until everything is well coated and melty. Adjust seasoning with additional salt or pepper if needed.
Serve hot, topped with the remaining bacon and chopped green onions or parsley for a pop of color and freshness.